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

Trio Petroleum Corp. (NYSEAMERICAN:TPET) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,290,000 shares, an increase of 2,667.0% from the March 31st total of 118,900 shares. Approximately 13.5% of the company’s stock are sold short. Based on an average trading volume of 20,570,000 shares, the short-interest ratio is currently 0.2 days.

Insider Buying and Selling

In related news, Director Frank C. Ingriselli sold 512,704 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $0.17, for a total transaction 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 document filed with the SEC, which is available at this hyperlink.

Trio Petroleum Stock Performance

Shares of TPET stock opened at $0.37 on Friday. Trio Petroleum has a 1 year low of $0.08 and a 1 year high of $2.43.

Trio Petroleum (NYSEAMERICAN:TPET) last issued its quarterly earnings results on Monday, March 18th. The company reported ($0.05) earnings per share (EPS) 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.