Imperial Petroleum (NASDAQ:IMPP) Shares Down 2.3%

Imperial Petroleum Inc. (NASDAQ:IMPP)’s share price fell 2.3% on Monday . The stock traded as low as $3.75 and last traded at $3.79. 144,977 shares were traded during trading, a decline of 73% from the average session volume of 534,594 shares. The stock had previously closed at $3.88.

Imperial Petroleum Trading Up 1.2 %

The company has a market cap of $113.14 million, a price-to-earnings ratio of 2.69 and a beta of 1.19. The stock has a 50-day simple moving average of $3.81 and a 200-day simple moving average of $3.35.

Imperial Petroleum (NASDAQ:IMPP) last announced its earnings results on Thursday, May 16th. The company reported $0.50 earnings per share (EPS) for the quarter. Imperial Petroleum had a net margin of 32.64% and a return on equity of 24.08%. The firm had revenue of $41.20 million during the quarter.

Hedge Funds Weigh In On Imperial Petroleum

Several hedge funds have recently modified their holdings of IMPP. Deuterium Capital Management LLC lifted its holdings in shares of Imperial Petroleum by 174.4% in the first quarter. Deuterium Capital Management LLC now owns 398,396 shares of the company’s stock valued at $1,247,000 after buying an additional 253,230 shares during the period. Privium Fund Management UK Ltd lifted its holdings in Imperial Petroleum by 355.6% in the 1st quarter. Privium Fund Management UK Ltd now owns 45,961 shares of the company’s stock valued at $148,000 after acquiring an additional 35,873 shares during the last quarter. PEAK6 Investments LLC acquired a new stake in Imperial Petroleum in the 1st quarter valued at about $108,000. Finally, Towerview LLC boosted its position in shares of Imperial Petroleum by 2.5% during the 4th quarter. Towerview LLC now owns 410,000 shares of the company’s stock valued at $1,082,000 after purchasing an additional 10,000 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.

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.