Imperial Petroleum Inc. [IMPP] fell -74.39% so far this year. What now?


Imperial Petroleum Inc. [NASDAQ: IMPP] price surged by 38.38 percent to reach at $0.15. The company report on May 27, 2022 that Imperial Petroleum Announces Agreement to Acquire Two Suezmax Tankers.

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Imperial Petroleum Inc. (Nasdaq: IMPP) announced today that it has entered into an agreement to acquire two suezmax tankers, built at Hyundai Samho in 2007 and at Samsung Heavy Industries in 2008, with an aggregate capacity of approximately 320,000 dwt, from an unaffiliated third party for an aggregate purchase price of $46.8 million, with delivery expected by mid- June 2022. The Company expects to finance the purchase price with cash-on-hand and new senior secured bank debt. This transaction is indicative of the Company’s substantial financial resources to consummate new vessel acquisitions due to its high level of available cash raised from its recently completed public offerings. This agreement is consistent with the company’s plan to continue its fleet expansion.

A sum of 112865327 shares traded at recent session while its average daily volume was at 42.83M shares. Imperial Petroleum Inc. shares reached a high of $0.56 and dropped to a low of $0.3968 until finishing in the latest session at $0.55.

IMPP Stock Performance Analysis:

Imperial Petroleum Inc. [IMPP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 28.58.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IMPP stock in for the last two-week period is set at 40.33, with the RSI for the last a single of trading hit 44.87, and the three-weeks RSI is set at 40.85 for Imperial Petroleum Inc. [IMPP]. The present Moving Average for the last 50 days of trading for this stock 1.0825, while it was recorded at 0.4275 for the last single week of trading.

Imperial Petroleum Inc. [IMPP] Insider Position Details

There are presently around $1 million, or 3.63% of IMPP stock, in the hands of institutional investors. The top three institutional holders of IMPP stocks are: MSD PARTNERS, L.P. with ownership of 439,581, which is approximately 0% of the company’s market cap and around 1.48% of the total institutional ownership; HUDSON BAY CAPITAL MANAGEMENT LP, holding 382,100 shares of the stock with an approximate value of $0.21 million in IMPP stocks shares; and IONIC CAPITAL MANAGEMENT LLC, currently with $0.19 million in IMPP stock with ownership of nearly New of the company’s market capitalization.

20 institutional holders increased their position in Imperial Petroleum Inc. [NASDAQ:IMPP] by around 1,321,442 shares. Additionally, 7 investors decreased positions by around 1,727,928 shares, while 4 investors held positions by with 1,242,937 shares. The mentioned changes placed institutional holdings at 1,806,433 shares, according to the latest SEC report filing. IMPP stock had 18 new institutional investments in for a total of 1,318,788 shares, while 6 institutional investors sold positions of 1,727,300 shares during the same period.