Imperial Petroleum (NASDAQ:IMPP) Trading 1.4% Higher – Should You Buy?

Shares of Imperial Petroleum Inc. (NASDAQ:IMPP) were up 1.4% during mid-day trading on Tuesday . The company 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 Price Performance

The stock has a fifty day moving average price of $2.99 and a 200 day moving average price of $3.52. The stock has a market capitalization of $89.13 million, a P/E ratio of 2.28 and a beta of 1.10.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IMPP. Cubist Systematic Strategies LLC bought a new stake in shares of Imperial Petroleum during the 2nd quarter worth $119,000. GSA Capital Partners LLP lifted its holdings in Imperial Petroleum by 28.9% in the third quarter. GSA Capital Partners LLP now owns 109,258 shares of the company’s stock worth $453,000 after buying an additional 24,501 shares during the period. Wexford Capital LP grew its stake in Imperial Petroleum by 41.8% in the third quarter. Wexford Capital LP now owns 312,201 shares of the company’s stock worth $1,296,000 after purchasing an additional 92,105 shares during the period. Towerview LLC increased its stake in shares of 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 in the last quarter. Finally, Deuterium Capital Management LLC boosted its position in shares of Imperial Petroleum by 43.6% in the 4th quarter. Deuterium Capital Management LLC now owns 1,393,770 shares of the company’s stock worth $4,195,000 after purchasing an additional 423,183 shares in the last quarter. 94.44% of the stock is owned by institutional investors.

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.