Imperial Petroleum Inc. (NASDAQ:IMPP) Sees Large Growth in Short Interest

Imperial Petroleum Inc. (NASDAQ:IMPP - Get Free Report) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totalling 3,910,000 shares, an increase of 7.1% from the April 15th total of 3,650,000 shares. Currently, 42.1% of the shares of the stock are short sold. Based on an average daily volume of 488,900 shares, the short-interest ratio is presently 8.0 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. PEAK6 Investments LLC bought a new stake in shares of Imperial Petroleum in the 1st quarter worth about $108,000. Deuterium Capital Management LLC raised its position in Imperial Petroleum by 174.4% during the first quarter. Deuterium Capital Management LLC now owns 398,396 shares of the company's stock valued at $1,247,000 after purchasing an additional 253,230 shares during the period. Privium Fund Management UK Ltd lifted its stake in shares of Imperial Petroleum by 355.6% in the 1st quarter. Privium Fund Management UK Ltd now owns 45,961 shares of the company's stock valued at $148,000 after purchasing an additional 35,873 shares during the last quarter. Towerview LLC boosted its holdings in shares of Imperial Petroleum by 2.5% in the 4th quarter. Towerview LLC now owns 410,000 shares of the company's stock worth $1,082,000 after purchasing an additional 10,000 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of Imperial Petroleum during the 3rd quarter valued at approximately $456,000. Institutional investors own 94.44% of the company's stock.

Imperial Petroleum Stock Performance

Shares of Imperial Petroleum stock traded up $0.34 during trading hours on Thursday, hitting $3.93. The company's stock had a trading volume of 1,488,663 shares, compared to its average volume of 562,906. Imperial Petroleum has a 12-month low of $1.18 and a 12-month high of $4.53. The business has a 50 day moving average price of $3.37 and a two-hundred day moving average price of $2.82. The company has a market cap of $117.15 million, a PE ratio of 1.20 and a beta of 1.18.

Imperial Petroleum (NASDAQ:IMPP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.02) earnings per share for the quarter. Imperial Petroleum had a return on equity of 34.11% and a net margin of 38.72%. The business had revenue of $29.88 million during the quarter.

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.