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

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

Imperial Petroleum Price Performance

Shares of NASDAQ:IMPP opened at $4.81 on Tuesday. Imperial Petroleum has a 12 month low of $2.90 and a 12 month high of $6.57. The firm has a market capitalization of $174.22 million, a P/E ratio of 3.08 and a beta of 1.26. The company’s fifty day moving average price is $5.01 and its 200 day moving average price is $4.49.

Institutional Trading of Imperial Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMPP. Anson Funds Management LP acquired a new stake in Imperial Petroleum during the 4th quarter worth approximately $15,782,000. PEAK6 LLC increased its holdings in shares of Imperial Petroleum by 1,554.6% in the fourth quarter. PEAK6 LLC now owns 573,278 shares of the company’s stock valued at $2,075,000 after purchasing an additional 538,631 shares during the period. Susquehanna Portfolio Strategies LLC purchased a new stake in shares of Imperial Petroleum during the fourth quarter worth approximately $916,000. Renaissance Technologies LLC raised its stake in shares of Imperial Petroleum by 4.8% during the fourth quarter. Renaissance Technologies LLC now owns 234,344 shares of the company’s stock worth $848,000 after purchasing an additional 10,648 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Imperial Petroleum during the fourth quarter worth $717,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.