Trio Petroleum (NYSEAMERICAN:TPET) Trading Up 6.1% – Should You Buy?

Trio Petroleum Corp. (NYSEAMERICAN:TPET) rose 6.1% on Monday . The company traded as high as $0.3879 and last traded at $0.3767. Approximately 12,838,250 shares changed hands during mid-day trading, an increase of 449% from the average daily volume of 2,340,215 shares. The stock had previously closed at $0.3550.

Trio Petroleum Price Performance

The firm has a market cap of $12.74 million, a P/E ratio of -0.63 and a beta of -4.93. The stock’s 50 day moving average is $0.50 and its two-hundred day moving average is $0.72.

Trio Petroleum (NYSEAMERICAN:TPET) last posted its earnings results on Tuesday, March 17th. The company reported ($0.10) earnings per share for the quarter. The business had revenue of $0.12 million during the quarter. Trio Petroleum had a negative net margin of 1,312.38% and a negative return on equity of 51.89%.

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.