Trio Petroleum (NYSEAMERICAN:TPET) Trading 3% Higher – Time to Buy?

Trio Petroleum Corp. (NYSEAMERICAN:TPET)’s share price traded up 3% on Tuesday . The company traded as high as $0.31 and last traded at $0.3099. 1,103,687 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 4,071,954 shares. The stock had previously closed at $0.3010.

Trio Petroleum Stock Performance

The company’s 50 day simple moving average is $0.39 and its 200 day simple moving average is $0.66. The stock has a market cap of $13.28 million, a PE ratio of -0.70 and a beta of -4.79.

Trio Petroleum (NYSEAMERICAN:TPET) last announced its earnings results on Thursday, June 11th. The company reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $0.21 million for the quarter. Trio Petroleum had a negative net margin of 934.15% and a negative return on equity of 37.33%.

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.