Trio Petroleum (NYSEAMERICAN:TPET) Trading Down 5.9% – Here’s Why

Trio Petroleum Corp. (NYSEAMERICAN:TPET) shares fell 5.9% during mid-day trading on Monday . The company traded as low as $0.8411 and last traded at $0.8590. 73,547 shares traded hands during trading, a decline of 50% from the average session volume of 146,466 shares. The stock had previously closed at $0.9128.

Trio Petroleum Stock Performance

The firm has a market capitalization of $7.25 million, a P/E ratio of -0.20 and a beta of -5.14. The stock’s 50 day simple moving average is $0.99 and its 200 day simple moving average is $1.12.

Institutional Trading of Trio Petroleum

An institutional investor recently bought a new position in Trio Petroleum stock. XTX Topco Ltd acquired a new stake in Trio Petroleum Corp. (NYSEAMERICAN:TPET) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 27,246 shares of the company’s stock, valued at approximately $38,000. XTX Topco Ltd owned approximately 0.40% of Trio Petroleum as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 0.34% of the company’s stock.

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.