Imperial Petroleum (NASDAQ:IMPP) Shares Down 3.6% – What’s Next?

Shares of Imperial Petroleum Inc. (NASDAQ:IMPP) dropped 3.6% during trading on Monday . The company traded as low as $2.97 and last traded at $2.97. Approximately 680,602 shares changed hands during mid-day trading, an increase of 236% from the average daily volume of 202,540 shares. The stock had previously closed at $3.08.

Imperial Petroleum Trading Down 0.3 %

The business’s 50-day simple moving average is $3.11 and its two-hundred day simple moving average is $3.63. The company has a market capitalization of $87.34 million, a PE ratio of 2.24 and a beta of 1.11.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new stake in shares of Imperial Petroleum during the second quarter worth $48,000. Cubist Systematic Strategies LLC bought a new position in Imperial Petroleum during the 2nd quarter worth $119,000. GSA Capital Partners LLP increased its holdings in shares of Imperial Petroleum by 28.9% in the 3rd 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 during the period. Towerview LLC raised its holdings in shares of Imperial Petroleum by 4.6% during the third quarter. Towerview LLC now owns 237,490 shares of the company’s stock valued at $986,000 after buying an additional 10,390 shares during the last quarter. Finally, Wexford Capital LP grew its holdings in Imperial Petroleum by 41.8% in the 3rd quarter. Wexford Capital LP now owns 312,201 shares of the company’s stock worth $1,296,000 after buying an additional 92,105 shares in the last quarter. 94.44% of the stock is currently 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.