Trio Petroleum (NYSEAMERICAN:TPET) Stock Price Down 1.1% – Here’s What Happened

Trio Petroleum Corp. (NYSEAMERICAN:TPET)’s share price dropped 1.1% on Wednesday . The company traded as low as $0.3026 and last traded at $0.3150. 1,138,641 shares were traded during trading, a decline of 72% from the average daily volume of 4,059,934 shares. The stock had previously closed at $0.3185.

Trio Petroleum Trading Down 1.1%

The firm has a 50 day simple moving average of $0.34 and a two-hundred day simple moving average of $0.60. The company has a market capitalization of $13.95 million, a PE ratio of -0.73 and a beta of -4.80.

Trio Petroleum (NYSEAMERICAN:TPET) last released its earnings results on Thursday, June 11th. The company reported ($0.05) earnings per share (EPS) for the quarter. Trio Petroleum had a negative net margin of 934.15% and a negative return on equity of 37.33%. The company had revenue of $0.21 million during the quarter.

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.