Trio Petroleum Corp. (NYSEAMERICAN:TPET) Short Interest Update

Trio Petroleum Corp. (NYSEAMERICAN:TPET) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 1,030,000 shares, a growth of 27.2% from the January 31st total of 809,800 shares. Based on an average daily volume of 4,950,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 28.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Trio Petroleum stock. Integrity Wealth Advisors Inc. bought a new position in Trio Petroleum Corp. (NYSEAMERICAN:TPET) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 29,000 shares of the company’s stock, valued at approximately $35,000. Integrity Wealth Advisors Inc. owned about 0.43% of Trio Petroleum as of its most recent filing with the Securities and Exchange Commission. 0.34% of the stock is owned by institutional investors.

Trio Petroleum Stock Performance

Shares of TPET stock traded up $0.04 during mid-day trading on Wednesday, reaching $1.27. The company’s stock had a trading volume of 107,305 shares, compared to its average volume of 4,637,310. The firm’s 50-day moving average is $1.56. The company has a market capitalization of $8.55 million, a P/E ratio of -0.29 and a beta of -7.73. Trio Petroleum has a 1-year low of $0.79 and a 1-year high of $14.39.

About Trio Petroleum

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.