Imperial Petroleum (NASDAQ:IMPP) Cut to “Buy” at Wall Street Zen

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

Separately, Weiss Ratings raised Imperial Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, September 16th. One investment 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Imperial Petroleum Stock Down 1.6%

Shares of NASDAQ:IMPP opened at $4.99 on Friday. The firm has a market cap of $227.64 million, a P/E ratio of 2.61 and a beta of 1.27. Imperial Petroleum has a 12 month low of $3.15 and a 12 month high of $6.57. The company’s 50-day moving average price is $5.09 and its two-hundred day moving average price is $4.91.

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

Institutional Investors Weigh In On Imperial Petroleum

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

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.