Imperial Petroleum (NASDAQ:IMPP) Shares 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)'s stock price traded down 0.3% during mid-day trading on Tuesday . The company traded as low as $3.00 and last traded at $3.01. 59,035 shares were traded during trading, a decline of 56% from the average session volume of 133,773 shares. The stock had previously closed at $3.02.

Imperial Petroleum Price Performance

The firm has a market cap of $94.80 million, a price-to-earnings ratio of 2.59 and a beta of 1.13. The stock has a 50-day moving average of $3.15 and a 200-day moving average of $2.81.

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

Institutional Investors Weigh In On Imperial Petroleum

A number of large investors have recently modified their holdings of IMPP. Renaissance Technologies LLC boosted 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 purchasing an additional 112,300 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Imperial Petroleum in the 4th quarter valued at $75,000. Marshall Wace LLP acquired a new stake in shares of Imperial Petroleum in the 4th quarter valued at $178,000. Bank of America Corp DE boosted its holdings in shares of Imperial Petroleum by 36.2% in the 4th quarter. Bank of America Corp DE now owns 55,785 shares of the company's stock valued at $168,000 after purchasing an additional 14,822 shares in the last quarter. Finally, Wexford Capital LP boosted 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 purchasing an additional 286,272 shares in the last quarter. Institutional investors and hedge funds 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.