Imperial Petroleum (NASDAQ:IMPP) Shares Down 3.6% – Time to Sell?

Imperial Petroleum Inc. (NASDAQ:IMPP)’s share price was down 3.6% on Monday . The stock traded as low as $2.97 and last traded at $2.97. Approximately 680,602 shares traded hands during trading, an increase of 236% from the average daily volume of 202,540 shares. The stock had previously closed at $3.08.

Imperial Petroleum Stock Down 3.6 %

The stock has a fifty day moving average price of $3.12 and a two-hundred day moving average price of $3.63. The company has a market capitalization of $88.54 million, a price-to-earnings ratio of 2.27 and a beta of 1.11.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IMPP. Wexford Capital LP grew its holdings in shares of Imperial Petroleum by 41.8% during the third quarter. Wexford Capital LP now owns 312,201 shares of the company’s stock worth $1,296,000 after buying an additional 92,105 shares in the last quarter. Towerview LLC grew its stake in Imperial Petroleum by 4.6% in the 3rd quarter. Towerview LLC now owns 237,490 shares of the company’s stock worth $986,000 after acquiring an additional 10,390 shares during the period. GSA Capital Partners LLP raised its holdings in Imperial Petroleum by 28.9% in the 3rd quarter. GSA Capital Partners LLP now owns 109,258 shares of the company’s stock valued at $453,000 after acquiring an additional 24,501 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Imperial Petroleum during the 2nd quarter worth $119,000. Finally, Marshall Wace LLP acquired a new stake in Imperial Petroleum in the 2nd quarter worth about $48,000. 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.