Trio Petroleum Corp. (NYSEAMERICAN:TPET) Sees Significant Decrease in Short Interest

Trio Petroleum Corp. (NYSEAMERICAN:TPET) saw a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 812,400 shares, a decline of 21.1% from the February 13th total of 1,030,000 shares. Based on an average daily volume of 4,940,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 12.2% of the company’s shares are short sold.

Trio Petroleum Price Performance

Shares of Trio Petroleum stock remained flat at $1.39 during midday trading on Wednesday. The company had a trading volume of 71,168 shares, compared to its average volume of 3,784,004. Trio Petroleum has a one year low of $0.79 and a one year high of $14.39. The stock has a fifty day moving average of $1.59. The stock has a market capitalization of $9.35 million, a PE ratio of -0.32 and a beta of -7.73.

Hedge Funds Weigh In On Trio Petroleum

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

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.