Trio Petroleum (NYSEAMERICAN:TPET) Trading Down 30.3%

Trio Petroleum Corp. (NYSEAMERICAN:TPET)’s stock price was down 30.3% during trading on Wednesday . The company traded as low as $0.28 and last traded at $0.34. Approximately 31,862,021 shares were traded during trading, an increase of 97% from the average daily volume of 16,184,042 shares. The stock had previously closed at $0.49.

Trio Petroleum Stock Up 18.8 %

The company has a market capitalization of $14.38 million and a P/E ratio of -1.44.

Trio Petroleum (NYSEAMERICAN:TPET) last announced its quarterly earnings data on Monday, March 18th. The company reported ($0.05) earnings per share (EPS) for the quarter.

Insider Activity

In other news, Director Frank C. Ingriselli sold 512,704 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $0.17, for a total value of $87,159.68. Following the sale, the director now directly owns 370,000 shares in the company, valued at $62,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Trio Petroleum

A hedge fund recently bought a new stake in Trio Petroleum stock. SkyView Investment Advisors LLC bought a new stake in Trio Petroleum Corp. (NYSEAMERICAN:TPET) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,000 shares of the company’s stock, valued at approximately $42,000. SkyView Investment Advisors LLC owned about 0.10% of Trio Petroleum at the end of the most recent reporting period. Institutional investors and hedge funds own 0.34% of the company’s stock.

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.