Imperial Petroleum (NASDAQ:IMPP) Trading Down 1.9% – Here’s Why

Imperial Petroleum Inc. (NASDAQ:IMPP) dropped 1.9% during trading on Wednesday . The company traded as low as $2.50 and last traded at $2.52. Approximately 135,557 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 310,727 shares. The stock had previously closed at $2.57.

Imperial Petroleum Stock Down 1.9 %

The firm has a market capitalization of $75.13 million, a PE ratio of 1.76 and a beta of 1.13. The business’s fifty day moving average price is $2.70 and its 200 day moving average price is $3.22.

Imperial Petroleum (NASDAQ:IMPP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.12 EPS for the quarter. Imperial Petroleum had a return on equity of 17.50% and a net margin of 34.01%. The firm had revenue of $26.21 million during the quarter.

Institutional Investors Weigh In On Imperial Petroleum

Several hedge funds have recently modified their holdings of IMPP. Wexford Capital LP raised its position in Imperial Petroleum by 41.8% during the 3rd quarter. Wexford Capital LP now owns 312,201 shares of the company’s stock worth $1,296,000 after buying an additional 92,105 shares during the last quarter. Towerview LLC increased its stake in shares of Imperial Petroleum by 51.6% during the fourth quarter. Towerview LLC now owns 360,000 shares of the company’s stock worth $1,084,000 after acquiring an additional 122,510 shares during the period. Deuterium Capital Management LLC raised its holdings in Imperial Petroleum by 43.6% during the fourth quarter. Deuterium Capital Management LLC now owns 1,393,770 shares of the company’s stock worth $4,195,000 after purchasing an additional 423,183 shares in the last quarter. Renaissance Technologies LLC lifted its position in Imperial Petroleum by 207.2% in the fourth quarter. Renaissance Technologies LLC now owns 166,500 shares of the company’s stock valued at $501,000 after purchasing an additional 112,300 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Imperial Petroleum in the 4th quarter valued at approximately $75,000. 94.44% of the stock is owned by institutional investors and hedge funds.

Imperial Petroleum Company Profile

Imperial Petroleum Inc provides international seaborne transportation services to oil producers, refineries, and commodities traders. It carries refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals, crude oils, iron ore, coal and grains, and minor bulks, such as bauxite, phosphate, and fertilizers.