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

Trio Petroleum Corp. (NYSEAMERICAN:TPET) was the target of a large increase in short interest during 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. Based on an average daily volume of 20,570,000 shares, the short-interest ratio is presently 0.2 days. Currently, 13.5% of the shares of the stock are sold short.

Trio Petroleum Stock Performance

NYSEAMERICAN TPET traded down $0.03 on Thursday, hitting $0.37. The company’s stock had a trading volume of 6,900,676 shares, compared to its average volume of 16,914,100. Trio Petroleum has a 1-year low of $0.08 and a 1-year high of $2.43.

Trio Petroleum (NYSEAMERICAN:TPET) last posted its quarterly earnings data on Monday, March 18th. The company reported ($0.05) earnings per share for the quarter.

Insider Activity at Trio Petroleum

In related news, Director Frank C. Ingriselli sold 512,704 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $0.17, for a total value of $87,159.68. Following the completion of the transaction, the director now owns 370,000 shares of the company’s stock, valued at approximately $62,900. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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.