Trio Petroleum (NYSEAMERICAN:TPET) Shares Down 0.9% – Here’s Why

Trio Petroleum Corp. (NYSEAMERICAN:TPET)’s stock price was down 0.9% on Tuesday . The company traded as low as $1.04 and last traded at $1.05. Approximately 101,629 shares were traded during trading, a decline of 56% from the average daily volume of 230,479 shares. The stock had previously closed at $1.06.

Trio Petroleum Price Performance

The stock’s fifty day simple moving average is $1.13 and its two-hundred day simple moving average is $1.23. The company has a market capitalization of $8.86 million, a price-to-earnings ratio of -0.24 and a beta of -5.30.

Hedge Funds Weigh In On Trio Petroleum

A hedge fund recently bought a new stake in Trio Petroleum stock. XTX Topco Ltd bought a new stake in Trio Petroleum Corp. (NYSEAMERICAN:TPET) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,246 shares of the company’s stock, valued at approximately $38,000. XTX Topco Ltd owned 0.40% of Trio Petroleum as of its most recent SEC filing. 0.34% of the stock is owned by institutional investors.

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.