Imperial Petroleum (NASDAQ:IMPP) Rating Lowered to Buy at Wall Street Zen

Imperial Petroleum (NASDAQ:IMPP) was downgraded by stock analysts at Wall Street Zen 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 assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Imperial Petroleum Stock Performance

Shares of NASDAQ:IMPP opened at $5.07 on Friday. Imperial Petroleum has a 52-week low of $3.15 and a 52-week high of $6.57. The firm has a fifty day moving average of $5.08 and a 200 day moving average of $4.90. The firm has a market capitalization of $231.29 million, a PE ratio of 2.65 and a beta of 1.27.

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

Hedge Funds Weigh In On Imperial Petroleum

Several hedge funds and other institutional investors have recently modified their holdings of the company. Investment Management Associates Inc. ADV bought a new position in Imperial Petroleum in the first quarter worth $51,000. Cetera Investment Advisers purchased a new position in Imperial Petroleum during the first quarter valued at $55,000. Sei Investments Co. bought a new stake in shares of Imperial Petroleum during the 1st quarter valued at $63,000. State of Wyoming bought a new stake in shares of Imperial Petroleum during the 1st quarter valued at $70,000. Finally, R Squared Ltd purchased a new stake in shares of Imperial Petroleum in the 1st quarter worth about $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.