Imperial Petroleum (NASDAQ:IMPP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Imperial Petroleum (NASDAQ:IMPP) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other brokerages have also commented on IMPP. Maxim Group raised their price target on shares of Imperial Petroleum from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Imperial Petroleum in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Imperial Petroleum currently has an average rating of “Moderate Buy” and an average target price of $6.00.

Imperial Petroleum Price Performance

Shares of IMPP opened at $4.71 on Friday. Imperial Petroleum has a 12 month low of $2.12 and a 12 month high of $5.25. The stock has a fifty day moving average price of $3.76 and a 200 day moving average price of $3.15. The company has a market cap of $162.12 million, a P/E ratio of 4.62 and a beta of 1.24.

Imperial Petroleum (NASDAQ:IMPP) last released its quarterly earnings results on Friday, September 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.04 by $0.33. Imperial Petroleum had a net margin of 29.79% and a return on equity of 13.80%. The business had revenue of $36.35 million during the quarter, compared to analyst estimates of $29.72 million. During the same quarter in the prior year, the firm earned $0.73 earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp acquired a new stake in shares of Imperial Petroleum during the fourth quarter valued at approximately $35,000. Empirical Finance LLC acquired a new stake in Imperial Petroleum during the 2nd quarter valued at $47,000. Squarepoint Ops LLC acquired a new stake in Imperial Petroleum during the 4th quarter valued at $147,000. Bank of America Corp DE lifted its holdings in shares of Imperial Petroleum by 36.2% in the fourth quarter. Bank of America Corp DE now owns 55,785 shares of the company’s stock valued at $168,000 after purchasing an additional 14,822 shares in the last quarter. Finally, Towerview LLC boosted its position in shares of Imperial Petroleum by 15.3% in the first quarter. Towerview LLC now owns 415,000 shares of the company’s stock worth $1,017,000 after buying an additional 55,000 shares during the period. 94.44% of the stock is currently owned by institutional investors and hedge funds.

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.