Trio Petroleum (NYSEAMERICAN:TPET) Trading Down 3.5% – Here’s What Happened

Shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) traded down 3.5% during trading on Wednesday . The stock traded as low as $0.6741 and last traded at $0.82. 14,617,417 shares traded hands during trading, a decline of 85% from the average session volume of 99,991,440 shares. The stock had previously closed at $0.85.

Trio Petroleum Stock Up 14.5%

The firm’s fifty day simple moving average is $0.85 and its 200-day simple moving average is $0.92. The firm has a market capitalization of $11.30 million, a PE ratio of -1.53 and a beta of -4.77.

Trio Petroleum (NYSEAMERICAN:TPET) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.10) earnings per share for the quarter. Trio Petroleum had a negative net margin of 1,312.38% and a negative return on equity of 51.89%. The firm had revenue of $0.12 million for the quarter.

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.