Imperial Petroleum (IMPP) Expected to Post Quarterly Earnings on Wednesday

Imperial Petroleum (NASDAQ:IMPP) is expected to be issuing its resultson Wednesday, July 29th. Analysts expect Imperial Petroleum to announce earnings of $0.7280 per share and revenue of $72.0660 million for the quarter.

Imperial Petroleum Stock Up 2.8%

NASDAQ:IMPP opened at $4.74 on Wednesday. Imperial Petroleum has a 52 week low of $2.90 and a 52 week high of $6.57. The stock’s fifty day moving average is $5.02 and its two-hundred day moving average is $4.46. The stock has a market capitalization of $171.68 million, a price-to-earnings ratio of 3.04 and a beta of 1.26.

Analysts Set New Price Targets

Several research firms recently issued reports on IMPP. Wall Street Zen upgraded Imperial Petroleum from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Weiss Ratings cut Imperial Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Finally, Maxim Group set a $9.00 target price on Imperial Petroleum and gave the company a “buy” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Institutional Investors Weigh In On Imperial Petroleum

A number of hedge funds have recently bought and sold shares of the stock. Mcguire Capital Advisors Inc. acquired a new position in Imperial Petroleum during the 4th quarter worth approximately $25,000. Renaissance Technologies LLC raised its holdings in shares of Imperial Petroleum by 4.8% in the 4th quarter. Renaissance Technologies LLC now owns 234,344 shares of the company’s stock valued at $848,000 after purchasing an additional 10,648 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Imperial Petroleum in the 3rd quarter valued at $90,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Imperial Petroleum by 14.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 160,000 shares of the company’s stock worth $765,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Imperial Petroleum during the 4th quarter worth $91,000. Institutional investors and hedge funds own 94.44% of the company’s stock.

About Imperial Petroleum

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.