Imperial Petroleum (NASDAQ:IMPP) Trading 2.9% Higher - What's Next?

Imperial Petroleum Inc. (NASDAQ:IMPP — Get Free Report)’s stock price traded up 2.9% on Monday . The stock traded as high as $5.34 and last traded at $5.24. 407,749 shares changed hands during trading, a decline of 27% from the average session volume of 562,079 shares. The stock had previously closed at $5.09.

Analyst Ratings Changes

Several research analysts have commented on IMPP shares. Weiss Ratings reissued a “hold (c)” rating on shares of Imperial Petroleum in a research report on Tuesday, October 14th. Wall Street Zen upgraded Imperial Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Finally, Maxim Group increased their target price on Imperial Petroleum from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $6.00.

Get Our Latest Report on Imperial Petroleum

Imperial Petroleum Price Performance

The stock has a market cap of $180.36 million, a PE ratio of 5.14 and a beta of 1.24. The business has a fifty day moving average of $4.29 and a 200 day moving average of $3.40.

Imperial Petroleum (NASDAQ:IMPP — Get Free Report) last announced its earnings results on Friday, September 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.33. Imperial Petroleum had a return on equity of 13.80% and a net margin of 29.79%.The company had revenue of $36.35 million for the quarter, compared to analyst estimates of $29.72 million. During the same period in the prior year, the company posted $0.73 EPS.

Hedge Funds Weigh In On Imperial Petroleum

Several large investors have recently modified their holdings of the stock. Towerview LLC lifted its position in shares of Imperial Petroleum by 1.8% during the second quarter. Towerview LLC now owns 422,281 shares of the company’s stock worth $1,301,000 after purchasing an additional 7,281 shares during the last quarter. Empirical Finance LLC acquired a new stake in Imperial Petroleum during the second quarter valued at approximately $47,000. Finally, Deuterium Capital Management LLC raised its stake in Imperial Petroleum by 3.1% during the second quarter. Deuterium Capital Management LLC now owns 1,601,812 shares of the company’s stock valued at $4,934,000 after buying an additional 48,362 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

Imperial Petroleum Company Profile

(Get Free Report)

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.

Further Reading

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