Short Interest in Trio Petroleum Corp. (NYSEAMERICAN:TPET) Decreases By 42.0%

Trio Petroleum Corp. (NYSEAMERICAN:TPET) was the recipient of a significant decrease in short interest in April. As of April 30th, there was short interest totaling 3,475,937 shares, a decrease of 42.0% from the April 15th total of 5,996,154 shares. Approximately 10.8% of the company’s stock are sold short. Based on an average daily trading volume, of 6,200,341 shares, the short-interest ratio is currently 0.6 days.

Trio Petroleum Stock Performance

Shares of TPET traded down $0.02 during mid-day trading on Monday, hitting $0.39. 2,947,372 shares of the company traded hands, compared to its average volume of 4,688,098. The stock has a 50-day moving average price of $0.76 and a two-hundred day moving average price of $0.79. Trio Petroleum has a 1 year low of $0.36 and a 1 year high of $2.50. The stock has a market cap of $13.33 million, a price-to-earnings ratio of -0.66 and a beta of -4.85.

Trio Petroleum (NYSEAMERICAN:TPET) last released its quarterly earnings data 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 company had revenue of $0.12 million for 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.