Trio Petroleum (NYSEAMERICAN:TPET) Trading Up 74.1% – Time to Buy?

Shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) were up 74.1% during mid-day trading on Tuesday . The stock traded as high as $2.10 and last traded at $1.95. Approximately 303,919,815 shares traded hands during trading, an increase of 1,186% from the average daily volume of 23,635,424 shares. The stock had previously closed at $1.12.

Trio Petroleum Stock Up 74.1%

The business has a fifty day moving average price of $0.71 and a 200-day moving average price of $0.91. The company has a market cap of $23.99 million, a P/E ratio of -2.35 and a beta of -4.77.

Trio Petroleum (NYSEAMERICAN:TPET) last released its quarterly earnings results on Tuesday, January 20th. The company reported ($0.11) earnings per share for the quarter. Trio Petroleum had a negative return on equity of 57.72% and a negative net margin of 1,829.90%.

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.