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Short Interest in Imperial Petroleum Inc. (NASDAQ:IMPP) Grows By 36.1%

kopsource ·  12/17/2022 08:42

Imperial Petroleum Inc. (NASDAQ:IMPP) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 8,930,000 shares,  an increase of 36.1% from the November 15th total of 6,560,000 shares. Based on an average trading volume of 6,410,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 4.7% of the shares of the company are short sold.

Imperial Petroleum Stock Performance

Shares of IMPP traded up $0.01 during mid-day trading on Friday, hitting $0.29. The stock had a trading volume of 3,491,607 shares, compared to its average volume of 26,878,746. The company has a market cap of $42.11 million and a PE ratio of -1.09. The company's fifty day simple moving average is $0.38 and its two-hundred day simple moving average is $0.41. The company has a quick ratio of 5.34, a current ratio of 5.72 and a debt-to-equity ratio of 2.06. Imperial Petroleum has a fifty-two week low of $0.26 and a fifty-two week high of $9.70.

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Imperial Petroleum (NASDAQ:IMPP – Get Rating) last issued its earnings results on Monday, October 24th. The company reported $0.08 EPS for the quarter. The company had revenue of $42.64 million during the quarter. Imperial Petroleum had a return on equity of 301.33% and a net margin of 22.61%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC acquired a new position in  Imperial Petroleum during the 2nd quarter valued at approximately $25,000.  UBS Group AG boosted its position in  Imperial Petroleum by 185.2% during the 3rd quarter. UBS Group AG now owns 84,224 shares of the company's stock valued at $27,000 after purchasing an additional 54,688 shares during the period.  Advisory Services Network LLC acquired a new position in  Imperial Petroleum during the 2nd quarter valued at approximately $37,000.  Edmond DE Rothschild Holding S.A. bought a new stake in  Imperial Petroleum during the 2nd quarter valued at $42,000.  Finally, Barclays PLC raised its stake in  Imperial Petroleum by 16,005.1% during the 3rd quarter. Barclays PLC now owns 251,562 shares of the company's stock valued at $82,000 after acquiring an additional 250,000 shares in the last quarter. Institutional investors and hedge funds own  2.74% of the company's stock.

Imperial Petroleum Company Profile

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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; and crude oils. As of March 29, 2022, the company owned four medium range refined petroleum product tankers and one Aframax crude oil tanker with a total capacity of 305,804 deadweight tons.

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