Imperial Petroleum (NASDAQ:IMPP) Trading Down 1.9% – What’s Next?

Imperial Petroleum Inc. (NASDAQ:IMPP) shares traded down 1.9% during mid-day trading on Wednesday . The company traded as low as $3.55 and last traded at $3.64. 478,586 shares were traded during mid-day trading, an increase of 5% from the average session volume of 455,249 shares. The stock had previously closed at $3.71.

Analysts Set New Price Targets

Several research analysts have commented on IMPP shares. Wall Street Zen downgraded shares of Imperial Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Imperial Petroleum in a research report on Wednesday, December 24th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Imperial Petroleum Stock Performance

The company’s 50-day moving average price is $4.43 and its 200 day moving average price is $4.20. The stock has a market capitalization of $131.84 million, a PE ratio of 3.50 and a beta of 1.29.

Imperial Petroleum (NASDAQ:IMPP) last posted its quarterly earnings data on Thursday, December 11th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.21. Imperial Petroleum had a return on equity of 13.60% and a net margin of 28.61%.The business had revenue of $41.20 million during the quarter, compared to the consensus estimate of $41.20 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GK Wealth Management LLC bought a new stake in Imperial Petroleum in the fourth quarter worth $46,000. Empirical Finance LLC purchased a new position in shares of Imperial Petroleum in the 2nd quarter worth about $47,000. Two Sigma Investments LP bought a new position in Imperial Petroleum in the 3rd quarter worth about $90,000. Allegheny Financial Group grew its position in Imperial Petroleum by 6.5% during the 3rd quarter. Allegheny Financial Group now owns 83,653 shares of the company’s stock valued at $400,000 after purchasing an additional 5,114 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Imperial Petroleum during the 3rd quarter valued at about $755,000. Institutional investors own 94.44% of the company’s stock.

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. As of April 1, 2024, the company owned and operated a fleet of six medium range refined petroleum product tankers; one Aframax tanker; two suezmax tankers; and two handysize drybulk carriers with a total capacity of 791,000 deadweight tons.