Short Interest in Trio Petroleum Corp. (NYSEAMERICAN:TPET) Increases By 2,667.0%

Trio Petroleum Corp. (NYSEAMERICAN:TPET) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 3,290,000 shares, an increase of 2,667.0% from the March 31st total of 118,900 shares. Based on an average daily volume of 20,570,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 13.5% of the company’s shares are short sold.

Trio Petroleum Stock Performance

Shares of TPET remained flat at $0.37 during midday trading on Friday. The stock had a trading volume of 6,186,333 shares, compared to its average volume of 16,786,275. Trio Petroleum has a 12-month low of $0.08 and a 12-month high of $2.43. The stock has a market cap of $13.59 million and a price-to-earnings ratio of -1.31.

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

Insider Buying and Selling

In other Trio Petroleum news, Director Frank C. Ingriselli sold 512,704 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $0.17, for a total transaction of $87,159.68. Following the completion of the sale, the director now owns 370,000 shares in the company, valued at $62,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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.