Thomas J. Pernice, a director at Trio Petroleum Corp. (NASDAQ:TPET), has sold 2,750 shares of the company's common stock. The transaction, completed on December 9, 2024, was executed at a weighted average price of $1.0841 per share, amounting to a total value of $2,981. Following this sale, Pernice retains ownership of 19,000 shares in the company. The sale was conducted under a Rule 10b5-1 trading plan, which Pernice adopted earlier this year on January 30.
The insider sale comes as TPET trades near its 52-week low of $0.90, with shares down 84% year-to-date. The company, currently valued at $2.76 million, trades at 0.3 times book value. According to InvestingPro analysis, TPET shows signs of being undervalued, though it maintains a weak financial health score. Subscribers can access 15 additional ProTips and comprehensive financial metrics to better evaluate this investment opportunity.
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