Imperial Petroleum Inc. (NASDAQ:IMPP) Short Interest Up 8.3% in January

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

Imperial Petroleum Price Performance

Shares of NASDAQ:IMPP traded up $0.06 during mid-day trading on Tuesday, reaching $2.85. 31,973 shares of the company traded hands, compared to its average volume of 286,004. The company’s 50 day moving average price is $2.98 and its 200-day moving average price is $3.49. The firm has a market cap of $84.81 million, a PE ratio of 2.17 and a beta of 1.10. Imperial Petroleum has a 52 week low of $2.55 and a 52 week high of $4.59.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deuterium Capital Management LLC raised its holdings in shares of Imperial Petroleum by 43.6% during the 4th quarter. Deuterium Capital Management LLC now owns 1,393,770 shares of the company’s stock worth $4,195,000 after acquiring an additional 423,183 shares in the last quarter. Wexford Capital LP increased its stake in Imperial Petroleum by 91.7% in the fourth quarter. Wexford Capital LP now owns 598,473 shares of the company’s stock worth $1,801,000 after purchasing an additional 286,272 shares during the period. Towerview LLC increased its stake in Imperial Petroleum by 51.6% in the fourth quarter. Towerview LLC now owns 360,000 shares of the company’s stock worth $1,084,000 after purchasing an additional 122,510 shares during the period. Renaissance Technologies LLC increased its stake in Imperial Petroleum by 207.2% in the fourth quarter. Renaissance Technologies LLC now owns 166,500 shares of the company’s stock worth $501,000 after purchasing an additional 112,300 shares during the period. Finally, GSA Capital Partners LLP increased its stake 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 purchasing an additional 24,501 shares during the period. 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.