Trio Petroleum Corp. (NYSEAMERICAN:TPET) Short Interest Up 2,667.0% in April

Posted by Jared Coughlin on Apr 25th, 2024

Trio Petroleum Corp. (NYSEAMERICAN:TPET – Get Free Report) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 3,290,000 shares, a growth of 2,667.0% from the March 31st total of 118,900 shares. Currently, 13.5% of the company’s shares are sold short. Based on an average daily trading volume, of 20,570,000 shares, the days-to-cover ratio is currently 0.2 days.

Insider Buying and Selling at Trio Petroleum

In other Trio Petroleum news, Director Frank C. Ingriselli sold 512,704 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $0.17, for a total transaction of $87,159.68. Following the completion of the sale, the director now directly owns 370,000 shares of the company’s stock, valued at $62,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Trio Petroleum Price Performance

Shares of NYSEAMERICAN TPET traded down $0.03 during mid-day trading on Thursday, reaching $0.37. The company had a trading volume of 6,900,676 shares, compared to its average volume of 16,914,100. Trio Petroleum has a 12-month low of $0.08 and a 12-month high of $2.43.

Trio Petroleum (NYSEAMERICAN:TPET – Get Free Report) last released its quarterly earnings data on Monday, March 18th. The company reported ($0.05) EPS for the quarter.

About Trio Petroleum

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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.