Imperial Petroleum (NASDAQ:IMPP) Rating Lowered to “Hold” at Wall Street Zen

Imperial Petroleum (NASDAQ:IMPP) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts have also weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Imperial Petroleum in a report on Monday, April 6th. Maxim Group lowered Imperial Petroleum from a “buy” rating to a “hold” rating in a report on Friday, March 13th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.00.

Imperial Petroleum Price Performance

Shares of IMPP stock opened at $4.25 on Friday. The business’s fifty day moving average price is $4.27 and its 200 day moving average price is $4.44. Imperial Petroleum has a 1-year low of $2.44 and a 1-year high of $6.57. The firm has a market capitalization of $153.94 million, a PE ratio of 3.29 and a beta of 1.21.

Imperial Petroleum announced that its board has authorized a stock buyback plan on Monday, February 9th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 8.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Imperial Petroleum

Large investors have recently bought and sold shares of the company. Mcguire Capital Advisors Inc. acquired a new stake in Imperial Petroleum in the fourth quarter valued at $25,000. GK Wealth Management LLC acquired a new stake in Imperial Petroleum in the fourth quarter valued at $46,000. Two Sigma Investments LP purchased a new stake in shares of Imperial Petroleum in the third quarter valued at $90,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Imperial Petroleum during the fourth quarter valued at $83,000. Finally, Revisor Wealth Management LLC acquired a new stake in shares of Imperial Petroleum during the fourth quarter valued at $84,000. Institutional investors and hedge funds own 94.44% of the company’s stock.

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. 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.