Imperial Petroleum (NASDAQ:IMPP) Shares Up 1.8% – Here’s What Happened

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

Imperial Petroleum Stock Up 1.8 %

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

Hedge Funds Weigh In On Imperial Petroleum

Several hedge funds have recently bought and sold shares of IMPP. Wexford Capital LP boosted its stake in shares of 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 period. Towerview LLC lifted its holdings in Imperial Petroleum by 4.6% during the 3rd quarter. Towerview LLC now owns 237,490 shares of the company’s stock valued at $986,000 after buying an additional 10,390 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Imperial Petroleum by 28.9% during the 3rd quarter. GSA Capital Partners LLP now owns 109,258 shares of the company’s stock valued at $453,000 after buying an additional 24,501 shares in the last quarter. Privium Fund Management UK Ltd grew its stake in Imperial Petroleum by 95.3% in the 2nd 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 in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Imperial Petroleum during the second quarter worth approximately $119,000. Institutional investors own 94.44% of the company’s stock.

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.