Imperial Petroleum (NASDAQ:IMPP) Trading 2.5% Higher – Should You Buy?

Imperial Petroleum Inc. (NASDAQ:IMPP) shares rose 2.5% during trading on Thursday . The stock traded as high as $2.46 and last traded at $2.46. Approximately 51,523 shares changed hands during trading, a decline of 81% from the average daily volume of 267,378 shares. The stock had previously closed at $2.40.

Imperial Petroleum Stock Up 2.5 %

The firm has a 50 day simple moving average of $2.50 and a two-hundred day simple moving average of $3.03. The stock has a market capitalization of $73.34 million, a P/E ratio of 1.72 and a beta of 1.08.

Imperial Petroleum (NASDAQ:IMPP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.12 earnings per share for the quarter. Imperial Petroleum had a return on equity of 17.50% and a net margin of 34.01%. The business had revenue of $26.21 million during the quarter.

Institutional Investors Weigh In On Imperial Petroleum

Hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp bought a new position in Imperial Petroleum in the 4th quarter valued at approximately $35,000. Walleye Capital LLC bought a new position in shares of Imperial Petroleum in the 4th quarter valued at $75,000. PEAK6 LLC acquired a new stake in shares of Imperial Petroleum during the 4th quarter valued at $104,000. Squarepoint Ops LLC bought a new stake in Imperial Petroleum during the 4th quarter worth $147,000. Finally, Bank of America Corp DE increased its holdings in Imperial Petroleum by 36.2% in the 4th quarter. Bank of America Corp DE now owns 55,785 shares of the company’s stock worth $168,000 after purchasing an additional 14,822 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.

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.