Trio Petroleum (NYSEAMERICAN:TPET) Trading Down 30.3%

Trio Petroleum Corp. (NYSEAMERICAN:TPET)’s share price dropped 30.3% during mid-day trading on Wednesday . The company traded as low as $0.28 and last traded at $0.34. Approximately 31,862,021 shares were traded during trading, an increase of 97% from the average daily volume of 16,184,042 shares. The stock had previously closed at $0.49.

Trio Petroleum Stock Performance

The stock has a market capitalization of $14.38 million and a P/E ratio of -1.44.

Trio Petroleum (NYSEAMERICAN:TPET) last released its earnings results on Monday, March 18th. The company reported ($0.05) EPS for the quarter.

Insiders Place Their Bets

In other news, Director Frank C. Ingriselli sold 512,704 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $0.17, for a total value of $87,159.68. Following the completion of the sale, the director now directly owns 370,000 shares in the company, valued at $62,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Trio Petroleum

An institutional investor recently bought a new position in Trio Petroleum stock. SkyView Investment Advisors LLC bought a new stake in Trio Petroleum Corp. (NYSEAMERICAN:TPET) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,000 shares of the company’s stock, valued at approximately $42,000. SkyView Investment Advisors LLC owned about 0.10% of Trio Petroleum at the end of the most recent quarter. 0.34% of the stock is currently owned by institutional investors.

Trio Petroleum Company Profile

Trio Petroleum Corp. operates as an oil and gas exploration and development company. The company's flagship project comprises the 85.75% owned working interest in the South Salinas project that consists of approximately 9,300-acre located in Monterey, California. It also owns 22% working interest in the McCool Ranch Oil Field located in Monterey County, California; 2% production interest in the Asphalt Ridge project comprises approximately 960 acres located in southwest of Vernal, Utah; and holds an option agreement to acquire 100% working interest in the Union Avenue Field located in Bakersfield, California.