Imperial Petroleum (NASDAQ:IMPP) Stock Price Up 1.4% – Here’s Why

Imperial Petroleum Inc. (NASDAQ:IMPP) shares were up 1.4% during mid-day trading on Tuesday . The stock traded as high as $3.05 and last traded at $2.99. Approximately 242,806 shares were traded during trading, a decline of 18% from the average daily volume of 297,381 shares. The stock had previously closed at $2.95.

Imperial Petroleum Stock Performance

The stock has a market cap of $89.13 million, a PE ratio of 2.28 and a beta of 1.10. The business’s fifty day moving average price is $2.99 and its 200-day moving average price is $3.52.

Institutional Trading of Imperial Petroleum

A number of hedge funds have recently bought and sold shares of IMPP. Deuterium Capital Management LLC lifted its position 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 valued at $4,195,000 after purchasing an additional 423,183 shares in the last quarter. Towerview LLC increased its stake in Imperial Petroleum by 51.6% in the 4th 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 last quarter. Wexford Capital LP raised its stake in Imperial Petroleum by 41.8% during the third quarter. Wexford Capital LP now owns 312,201 shares of the company’s stock valued at $1,296,000 after purchasing an additional 92,105 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Imperial Petroleum in the 2nd quarter valued at about $119,000. Finally, GSA Capital Partners LLP raised its holdings in Imperial Petroleum by 28.9% during the 3rd quarter. GSA Capital Partners LLP now owns 109,258 shares of the company’s stock valued at $453,000 after buying an additional 24,501 shares during the period. Hedge funds and other 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.