Imperial Petroleum (NASDAQ:IMPP) Trading Down 1.9% – What’s Next?

Imperial Petroleum Inc. (NASDAQ:IMPP)’s stock price fell 1.9% during mid-day trading on Wednesday . The stock traded as low as $2.50 and last traded at $2.52. 135,557 shares were traded during trading, a decline of 56% from the average session volume of 310,727 shares. The stock had previously closed at $2.57.

Imperial Petroleum Trading Down 1.9 %

The firm has a market cap of $75.13 million, a PE ratio of 1.76 and a beta of 1.13. The business has a fifty day moving average price of $2.70 and a 200 day moving average price of $3.22.

Imperial Petroleum (NASDAQ:IMPP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.12 EPS for the quarter. The company had revenue of $26.21 million for the quarter. Imperial Petroleum had a net margin of 34.01% and a return on equity of 17.50%.

Institutional Investors Weigh In On Imperial Petroleum

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp acquired a new stake in shares of Imperial Petroleum during the fourth quarter worth about $35,000. Walleye Capital LLC acquired a new position in Imperial Petroleum during the fourth quarter worth approximately $75,000. PEAK6 LLC purchased a new stake in Imperial Petroleum in the fourth quarter valued at approximately $104,000. Squarepoint Ops LLC acquired a new stake in shares of Imperial Petroleum in the fourth quarter valued at approximately $147,000. Finally, Bank of America Corp DE boosted its holdings in shares of Imperial Petroleum by 36.2% in the fourth quarter. Bank of America Corp DE now owns 55,785 shares of the company’s stock valued at $168,000 after acquiring an additional 14,822 shares during the period. 94.44% of the stock is owned by hedge funds and other institutional investors.

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.