157,943 Shares in Imperial Petroleum Inc. $IMPP Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new stake in Imperial Petroleum Inc. (NASDAQ:IMPP) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 157,943 shares of the company’s stock, valued at approximately $755,000.

Other hedge funds also recently added to or reduced their stakes in the company. Deuterium Capital Management LLC grew its stake in shares of Imperial Petroleum by 3.1% in the 2nd quarter. Deuterium Capital Management LLC now owns 1,601,812 shares of the company’s stock valued at $4,934,000 after purchasing an additional 48,362 shares during the last quarter. Empirical Finance LLC purchased a new stake in shares of Imperial Petroleum during the second quarter worth approximately $47,000. Towerview LLC lifted its holdings 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 period. Finally, Allegheny Financial Group grew its position in Imperial Petroleum by 6.5% in the 3rd quarter. Allegheny Financial Group now owns 83,653 shares of the company’s stock valued at $400,000 after buying an additional 5,114 shares during the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

Imperial Petroleum Price Performance

Shares of IMPP stock opened at $3.97 on Friday. The business’s fifty day moving average price is $3.69 and its 200 day moving average price is $4.26. The firm has a market capitalization of $143.79 million, a PE ratio of 3.82 and a beta of 1.29. Imperial Petroleum Inc. has a 1-year low of $2.12 and a 1-year high of $6.57.

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

Imperial Petroleum declared that its Board of Directors has authorized a stock repurchase program on Monday, February 9th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 8.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

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

Imperial Petroleum 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.