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

Trio Petroleum Corp. (NYSEAMERICAN:TPET) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 2,410,000 shares, a growth of 299.3% from the September 30th total of 603,600 shares. Approximately 6.4% of the shares of the stock are sold short. Based on an average daily volume of 3,440,000 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On Trio Petroleum

A hedge fund recently raised its stake in Trio Petroleum stock. XTX Topco Ltd raised its position in shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) by 567.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,481 shares of the company’s stock after acquiring an additional 71,826 shares during the quarter. XTX Topco Ltd owned approximately 0.17% of Trio Petroleum worth $26,000 as of its most recent SEC filing. 0.34% of the stock is currently owned by institutional investors and hedge funds.

Trio Petroleum Price Performance

NYSEAMERICAN TPET remained flat at $0.14 during trading hours on Friday. The company had a trading volume of 1,422,645 shares, compared to its average volume of 9,556,527. The firm has a market cap of $7.11 million, a PE ratio of -0.63 and a beta of -8.74. Trio Petroleum has a 12 month low of $0.08 and a 12 month high of $0.74.

Trio Petroleum (NYSEAMERICAN:TPET) last released its quarterly earnings results on Thursday, September 12th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $0.06 million during the quarter.

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.