Imperial Petroleum Inc. (NASDAQ:IMPP) Sees Large Increase in Short Interest

Imperial Petroleum Inc. (NASDAQ:IMPP) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 3,000,000 shares, a growth of 8.3% from the January 15th total of 2,770,000 shares. Based on an average daily volume of 260,800 shares, the short-interest ratio is currently 11.5 days. Approximately 16.1% of the shares of the company are sold short.

Imperial Petroleum Stock Down 0.0 %

Shares of Imperial Petroleum stock traded down $0.00 during trading hours on Tuesday, reaching $2.79. 234,400 shares of the stock traded hands, compared to its average volume of 292,855. Imperial Petroleum has a one year low of $2.55 and a one year high of $4.59. The firm has a market capitalization of $83.14 million, a price-to-earnings ratio of 2.13 and a beta of 1.10. The company has a 50 day moving average price of $2.98 and a 200 day moving average price of $3.49.

Imperial Petroleum (NASDAQ:IMPP) last announced its earnings results on Thursday, February 13th. The company reported $0.12 earnings per share (EPS) for the quarter. Imperial Petroleum had a net margin of 34.87% and a return on equity of 17.51%. The company had revenue of $26.21 million during the quarter.

Hedge Funds Weigh In On Imperial Petroleum

Institutional investors have recently bought and sold shares of the stock. Deuterium Capital Management LLC raised its stake in shares of Imperial Petroleum by 43.6% in the fourth quarter. Deuterium Capital Management LLC now owns 1,393,770 shares of the company’s stock worth $4,195,000 after buying an additional 423,183 shares during the period. Wexford Capital LP increased its holdings in Imperial Petroleum by 91.7% in the 4th quarter. Wexford Capital LP now owns 598,473 shares of the company’s stock worth $1,801,000 after acquiring an additional 286,272 shares in the last quarter. Towerview LLC raised its stake in Imperial Petroleum by 51.6% during the 4th quarter. Towerview LLC now owns 360,000 shares of the company’s stock worth $1,084,000 after acquiring an additional 122,510 shares during the period. Renaissance Technologies LLC lifted its holdings in Imperial Petroleum by 207.2% during the fourth quarter. Renaissance Technologies LLC now owns 166,500 shares of the company’s stock valued at $501,000 after purchasing an additional 112,300 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Imperial Petroleum during the fourth quarter valued at approximately $178,000. 94.44% of the stock is 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.