Trio Petroleum Corp. (NYSEAMERICAN:TPET) Short Interest Down 21.1% in February

Trio Petroleum Corp. (NYSEAMERICAN:TPET) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 812,400 shares, a decrease of 21.1% from the February 13th total of 1,030,000 shares. Currently, 12.2% of the company’s shares are short sold. Based on an average trading volume of 4,940,000 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Trio Petroleum

An institutional investor recently bought a new position in Trio Petroleum stock. Integrity Wealth Advisors Inc. acquired a new stake in Trio Petroleum Corp. (NYSEAMERICAN:TPET) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.34% of the company’s stock.

Trio Petroleum Stock Performance

Shares of TPET traded down $0.06 during mid-day trading on Tuesday, hitting $1.39. 121,127 shares of the company’s stock were exchanged, compared to its average volume of 3,856,889. The company has a market capitalization of $9.35 million, a P/E ratio of -0.32 and a beta of -7.73. The company has a 50-day moving average of $1.59. Trio Petroleum has a fifty-two week low of $0.79 and a fifty-two week high of $14.39.

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.