Imperial Petroleum Target of Unusually High Options Trading (NASDAQ:IMPP)

Imperial Petroleum Inc. (NASDAQ:IMPP) was the target of some unusual options trading activity on Monday. Stock traders bought 7,009 put options on the stock. This is an increase of 370% compared to the average daily volume of 1,491 put options.

Imperial Petroleum Stock Up 3.5%

IMPP opened at $4.40 on Tuesday. The firm has a market capitalization of $159.37 million, a P/E ratio of 4.23 and a beta of 1.25. The stock has a fifty day moving average of $3.72 and a 200-day moving average of $4.32. Imperial Petroleum has a 12-month low of $2.12 and a 12-month high of $6.57.

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

Imperial Petroleum declared that its board has authorized a stock buyback plan on Monday, February 9th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 8.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

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

Institutional Trading of Imperial Petroleum

Hedge funds have recently made changes to their positions in the stock. Mcguire Capital Advisors Inc. purchased a new position in Imperial Petroleum during the fourth quarter valued at approximately $25,000. GK Wealth Management LLC acquired a new stake in shares of Imperial Petroleum during the 4th quarter valued at $46,000. Empirical Finance LLC purchased a new position in shares of Imperial Petroleum during the 2nd quarter valued at $47,000. Kestra Private Wealth Services LLC purchased a new position in shares of Imperial Petroleum during the 4th quarter valued at $83,000. Finally, Revisor Wealth Management LLC acquired a new position in shares of Imperial Petroleum in the fourth quarter worth $84,000. 94.44% of the stock is owned by hedge funds and other 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. 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.