Imperial Petroleum (NASDAQ:IMPP) Shares Up 2.2%

Imperial Petroleum Inc. (NASDAQ:IMPPGet Free Report) rose 2.2% on Tuesday . The stock traded as high as $1.43 and last traded at $1.39. Approximately 827,208 shares traded hands during trading, an increase of 11% from the average daily volume of 746,016 shares. The stock had previously closed at $1.36.

Imperial Petroleum Stock Performance

The company has a market cap of $23.41 million, a price-to-earnings ratio of 0.25 and a beta of 1.35. The business has a 50-day simple moving average of $2.13 and a 200-day simple moving average of $2.81.

Imperial Petroleum (NASDAQ:IMPPGet Free Report) last issued its earnings results on Thursday, August 10th. The company reported $1.28 earnings per share for the quarter. Imperial Petroleum had a net margin of 39.88% and a return on equity of 82.55%. The firm had revenue of $59.04 million for the quarter.

Institutional Investors Weigh In On Imperial Petroleum

Institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in Imperial Petroleum in the second quarter valued at $25,000. UBS Group AG increased its holdings in shares of Imperial Petroleum by 185.2% in the 3rd quarter. UBS Group AG now owns 84,224 shares of the company’s stock valued at $27,000 after acquiring an additional 54,688 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Imperial Petroleum during the 1st quarter worth about $27,000. SkyView Investment Advisors LLC purchased a new stake in Imperial Petroleum during the first quarter worth approximately $34,000. Finally, Virtu Financial LLC acquired a new position in Imperial Petroleum in the second quarter valued at approximately $36,000. 46.44% of the stock is owned by hedge funds and other institutional investors.

About Imperial Petroleum

(Get Free Report)

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.

Further Reading

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