Imperial Petroleum (NASDAQ:IMPP) Stock Price Down 0.3% - Time to Sell?

Key Points

• Imperial Petroleum Inc. shares fell by 0.3% to $3.01 during mid-day trading, with a significant drop in trading volume of 56% compared to its average daily activity.
• The company reported $0.34 EPS for the last quarter, with a return on equity of 17.55% and a net margin of 32.37%, indicating strong financial performance.
• Institutional investors> hold 94.44% of the company's stock, with significant increases in holdings reported by multiple institutional investors in recent quarters.

Imperial Petroleum Inc. (NASDAQ:IMPP - Get Free Report) dropped 0.3% during trading on Tuesday . The stock traded as low as $3.00 and last traded at $3.01. Approximately 59,035 shares changed hands during 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 Up 1.3%

The company has a market cap of $94.80 million, a price-to-earnings ratio of 2.59 and a beta of 1.13. The firm's fifty day simple moving average is $3.15 and its 200 day simple moving average is $2.80.

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

Institutional Trading of Imperial Petroleum

Institutional investors have recently modified their holdings of the stock. Wexford Capital LP increased its holdings in shares of Imperial Petroleum by 91.7% in the 4th quarter. Wexford Capital LP now owns 598,473 shares of the company's stock valued at $1,801,000 after acquiring an additional 286,272 shares during the period. Deuterium Capital Management LLC increased its holdings in shares of Imperial Petroleum by 11.5% in the 1st quarter. Deuterium Capital Management LLC now owns 1,553,450 shares of the company's stock valued at $3,806,000 after acquiring an additional 159,680 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Imperial Petroleum by 207.2% in the 4th quarter. Renaissance Technologies LLC now owns 166,500 shares of the company's stock valued at $501,000 after acquiring an additional 112,300 shares during the period. Marshall Wace LLP acquired a new position in shares of Imperial Petroleum in the 4th quarter valued at $178,000. Finally, Towerview LLC increased its holdings in shares of Imperial Petroleum by 15.3% in the 1st quarter. Towerview LLC now owns 415,000 shares of the company's stock valued at $1,017,000 after acquiring an additional 55,000 shares during the period. Hedge funds and other institutional investors own 94.44% of the company's stock.

About Imperial Petroleum

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.