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

Trio Petroleum Corp. (NYSEAMERICAN:TPET) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 406,085 shares, a decrease of 79.8% from the August 15th total of 2,007,215 shares. Approximately 8.7% of the company’s shares are short sold. Based on an average daily volume of 158,550 shares, the short-interest ratio is currently 2.6 days.

Hedge Funds Weigh In On Trio Petroleum

An institutional investor recently bought a new stake in Trio Petroleum stock. Cygnus Capital Advisors LLC bought a new stake in shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 859,342 shares of the company’s stock, valued at approximately $266,000. Cygnus Capital Advisors LLC owned about 17.47% of Trio Petroleum as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.34% of the company’s stock.

Trio Petroleum Stock Performance

Shares of TPET stock opened at $1.86 on Friday. The firm has a market cap of $9.17 million, a P/E ratio of -0.69 and a beta of -4.79. Trio Petroleum has a fifty-two week low of $1.68 and a fifty-two week high of $22.50. The business’s 50 day moving average price is $2.33 and its 200-day moving average price is $4.41.

Trio Petroleum (NYSEAMERICAN:TPET) last released its quarterly earnings results on Wednesday, September 9th. The company reported ($0.39) earnings per share for the quarter. The company had revenue of $0.35 million during the quarter. Trio Petroleum had a negative net margin of 830.43% and a negative return on equity of 36.52%.

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.