Imperial Petroleum Inc. (NASDAQ:IMPP) Short Interest Up 7.1% in April

Imperial Petroleum Inc. (NASDAQ:IMPP) was the target of a significant increase in short interest during the month of 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 company are sold short. Based on an average daily volume of 488,900 shares, the days-to-cover ratio is presently 8.0 days.

Imperial Petroleum Stock Performance

Shares of IMPP stock traded up $0.24 on Friday, hitting $4.17. 499,837 shares of the company’s stock traded hands, compared to its average volume of 561,366. Imperial Petroleum has a one year low of $1.18 and a one year high of $4.53. The stock has a market capitalization of $124.31 million, a price-to-earnings ratio of 1.30 and a beta of 1.18. The company’s fifty day simple moving average is $3.39 and its 200 day simple moving average is $2.83.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Privium Fund Management UK Ltd purchased a new stake in Imperial Petroleum in the 4th quarter valued at approximately $27,000. PEAK6 Investments LLC purchased a new position in shares of Imperial Petroleum in the first quarter valued at $108,000. Acadian Asset Management LLC purchased a new position in shares of Imperial Petroleum in the third quarter valued at $456,000. Deuterium Capital Management LLC boosted its stake in Imperial Petroleum by 174.4% during the 1st quarter. Deuterium Capital Management LLC now owns 398,396 shares of the company’s stock valued at $1,247,000 after acquiring an additional 253,230 shares during the last quarter. Finally, Towerview LLC bought a new position in shares of Imperial Petroleum in the 3rd quarter worth about $632,000. 94.44% of the stock is currently owned by hedge funds and other 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.