Imperial Petroleum (NASDAQ:IMPP) Shares Down 0.3% – Here’s What Happened

Imperial Petroleum Inc. (NASDAQ:IMPP) shares dropped 0.3% during mid-day trading on Tuesday . The company traded as low as $3.00 and last traded at $3.01. Approximately 59,035 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 133,773 shares. The stock had previously closed at $3.02.

Imperial Petroleum Trading Down 0.3%

The business has a fifty day moving average price of $3.16 and a 200-day moving average price of $2.80. The stock has a market capitalization of $89.73 million, a PE ratio of 2.45 and a beta of 1.13.

Imperial Petroleum (NASDAQ:IMPP) last posted its quarterly earnings data on Friday, May 23rd. The company reported $0.34 earnings per share (EPS) for the quarter. Imperial Petroleum had a return on equity of 17.55% and a net margin of 32.37%.The firm had revenue of $32.09 million during the quarter.

Institutional Investors Weigh In On Imperial Petroleum

Hedge funds and other institutional investors have recently modified their holdings of the stock. Deuterium Capital Management LLC lifted its holdings in Imperial Petroleum by 3.1% in the 2nd quarter. Deuterium Capital Management LLC now owns 1,601,812 shares of the company’s stock worth $4,934,000 after buying an additional 48,362 shares during the period. Wexford Capital LP lifted its holdings in Imperial Petroleum by 91.7% in the 4th quarter. Wexford Capital LP now owns 598,473 shares of the company’s stock worth $1,801,000 after buying an additional 286,272 shares during the period. Towerview LLC lifted its holdings in Imperial Petroleum by 1.8% in the 2nd quarter. Towerview LLC now owns 422,281 shares of the company’s stock worth $1,301,000 after buying an additional 7,281 shares during the period. Renaissance Technologies LLC lifted its holdings in Imperial Petroleum by 207.2% in the 4th quarter. Renaissance Technologies LLC now owns 166,500 shares of the company’s stock worth $501,000 after buying an additional 112,300 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Imperial Petroleum in the 4th quarter worth approximately $178,000. Institutional investors own 94.44% of the company’s stock.

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.