Imperial Petroleum (NASDAQ:IMPP) Stock Bumped Down to “Buy” by Wall Street Zen

Wall Street Zen cut shares of Imperial Petroleum (NASDAQ:IMPP) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Imperial Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, September 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.00.

Imperial Petroleum Trading Down 0.4%

Shares of NASDAQ:IMPP opened at $5.07 on Friday. The firm’s 50 day moving average is $5.08 and its two-hundred day moving average is $4.90. Imperial Petroleum has a 52 week low of $3.15 and a 52 week high of $6.57. The firm has a market capitalization of $231.29 million, a P/E ratio of 2.65 and a beta of 1.27.

Imperial Petroleum (NASDAQ:IMPP) last released its quarterly earnings results on Thursday, September 10th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The company had revenue of $87.07 million for the quarter, compared to analysts’ expectations of $72.07 million. Imperial Petroleum had a return on equity of 16.92% and a net margin of 36.76%.

Hedge Funds Weigh In On Imperial Petroleum

Large investors have recently bought and sold shares of the stock. Investment Management Associates Inc. ADV bought a new stake in shares of Imperial Petroleum during the 1st quarter worth about $51,000. Cetera Investment Advisers acquired a new stake in shares of Imperial Petroleum in the 1st quarter worth approximately $55,000. Sei Investments Co. bought a new position in shares of Imperial Petroleum in the first quarter valued at approximately $63,000. State of Wyoming bought a new position in shares of Imperial Petroleum in the first quarter valued at approximately $70,000. Finally, R Squared Ltd acquired a new position in shares of Imperial Petroleum during the first quarter valued at approximately $77,000. Institutional investors and hedge funds own 94.44% of the company’s stock.

About Imperial Petroleum

Imperial Petroleum Inc (NASDAQ: IMPP) is a maritime transportation company engaged in the ownership and operation of tanker vessels. The company transports crude oil, refined petroleum products and other liquid cargoes for customers in international seaborne trade.

Based in Greece, Imperial Petroleum serves global shipping markets through a fleet that has included crude oil tankers and product tankers of various sizes. Its vessels may operate on spot or time-charter arrangements, depending on market conditions and commercial opportunities.

Imperial Petroleum was established in 2021 and became a publicly traded company on the Nasdaq Capital Market in 2022.