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

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

Institutional Investors Weigh In On Trio Petroleum

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

Trio Petroleum Trading Down 4.1 %

TPET stock traded down $0.06 during midday trading on Tuesday, reaching $1.39. 121,127 shares of the company were exchanged, compared to its average volume of 3,856,889. The company’s 50-day moving average price is $1.59. Trio Petroleum has a 1-year low of $0.79 and a 1-year high of $14.39. The company has a market capitalization of $9.35 million, a P/E ratio of -0.32 and a beta of -7.73.

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.