Trio Petroleum (NYSEAMERICAN:TPET) Shares Down 2.5% – Here’s What Happened

Trio Petroleum Corp. (NYSEAMERICAN:TPET)’s share price dropped 2.5% during trading on Thursday . The stock traded as low as $1.17 and last traded at $1.18. Approximately 508,412 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,077,181 shares. The stock had previously closed at $1.21.

Trio Petroleum Stock Down 2.5%

The business has a 50 day simple moving average of $1.25 and a two-hundred day simple moving average of $1.28. The firm has a market cap of $8.87 million, a PE ratio of -0.27 and a beta of -5.64.

Institutional Investors Weigh In On Trio Petroleum

An institutional investor recently bought a new position in Trio Petroleum stock. XTX Topco Ltd bought a new stake in shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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 SEC filing. 0.34% of the stock is owned by institutional investors and hedge funds.

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.