Imperial Petroleum (NASDAQ:IMPP) Trading 1.8% Higher – Time to Buy?

Imperial Petroleum Inc. (NASDAQ:IMPP)’s stock price shot up 1.8% during trading on Friday . The company traded as high as $2.91 and last traded at $2.90. 143,443 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 383,573 shares. The stock had previously closed at $2.85.

Imperial Petroleum Stock Up 1.8 %

The company has a market capitalization of $86.46 million, a P/E ratio of 2.21 and a beta of 1.11. The business has a 50 day moving average of $3.27 and a 200 day moving average of $3.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IMPP. Wexford Capital LP lifted its position in Imperial Petroleum by 41.8% during the third quarter. Wexford Capital LP now owns 312,201 shares of the company’s stock valued at $1,296,000 after purchasing an additional 92,105 shares during the last quarter. Towerview LLC lifted its holdings in shares of Imperial Petroleum by 4.6% in the 3rd quarter. Towerview LLC now owns 237,490 shares of the company’s stock valued at $986,000 after acquiring an additional 10,390 shares during the last quarter. GSA Capital Partners LLP grew its position 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 acquiring an additional 24,501 shares in the last quarter. Privium Fund Management UK Ltd increased its stake in Imperial Petroleum by 95.3% during the second quarter. Privium Fund Management UK Ltd now owns 89,757 shares of the company’s stock worth $337,000 after acquiring an additional 43,796 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Imperial Petroleum during the second quarter valued at approximately $119,000. 94.44% of the stock is currently owned by 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.