Imperial Petroleum (NASDAQ:IMPP) Trading Down 3.9% - Should You Sell?
Imperial Petroleum Inc. (NASDAQ:IMPP — Get Free Report)’s stock price was down 3.9% during trading on Monday . The stock traded as low as $2.98 and last traded at $2.98. Approximately 172,150 shares were traded during trading, a decline of 25% from the average daily volume of 230,470 shares. The stock had previously closed at $3.10.
Imperial Petroleum Price Performance
The stock has a market capitalization of $88.84 million, a P/E ratio of 2.42 and a beta of 1.13. The firm’s 50 day moving average price is $2.92 and its 200 day moving average price is $2.78.
Imperial Petroleum (NASDAQ:IMPP — Get Free Report) last issued its quarterly earnings data on Friday, May 23rd. The company reported $0.34 EPS for the quarter. The firm had revenue of $32.09 million during the quarter. Imperial Petroleum had a net margin of 32.37% and a return on equity of 17.55%.
Hedge Funds Weigh In On Imperial Petroleum
Hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp purchased a new position in shares of Imperial Petroleum during the fourth quarter valued at about $35,000. Walleye Capital LLC purchased a new position in shares of Imperial Petroleum during the fourth quarter valued at about $75,000. PEAK6 LLC purchased a new position in shares of Imperial Petroleum during the fourth quarter valued at about $104,000. Squarepoint Ops LLC purchased a new position in shares of Imperial Petroleum during the fourth quarter valued at about $147,000. Finally, Bank of America Corp DE increased its position in shares of Imperial Petroleum by 36.2% during the fourth quarter. Bank of America Corp DE now owns 55,785 shares of the company’s stock valued at $168,000 after buying an additional 14,822 shares during the period. 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.
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