Imperial Petroleum (NASDAQ:IMPP) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Imperial Petroleum from “strong buy” to “buy,” while Weiss Ratings raised its assessment from “hold (c)” to “hold (c+).” The stock has a consensus “Moderate Buy” rating and a $9.00 price target.
• Imperial Petroleum shares opened at $5.07, with a market capitalization of approximately $231.3 million. The company trades at a P/E ratio of 2.65 and reported quarterly earnings of $0.76 per share, exceeding estimates of $0.73.
• Institutional investors and hedge funds own 94.44% of the company, with firms including Renaissance Technologies and Empowered Funds significantly increasing their holdings.

Imperial Petroleum (NASDAQ:IMPP - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Imperial Petroleum from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, September 16th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Imperial Petroleum has an average rating of "Moderate Buy" and a consensus price target of $9.00.

Imperial Petroleum Trading Down 0.4%

Shares of IMPP opened at $5.07 on Friday. The firm has a market cap of $231.29 million, a P/E ratio of 2.65 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 $5.08 and its 200 day moving average price is $4.90.

Imperial Petroleum (NASDAQ:IMPP - Get Free Report) last announced its earnings results on Thursday, September 10th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $72.07 million.

Hedge Funds Weigh In On Imperial Petroleum

Several hedge funds have recently bought and sold shares of IMPP. WINTON GROUP Ltd acquired a new position in Imperial Petroleum in the 2nd quarter valued at about $1,319,000. NewEdge Advisors LLC acquired a new stake in shares of Imperial Petroleum during the second quarter worth about $327,000. Empowered Funds LLC boosted its stake in shares of Imperial Petroleum by 139.2% in the first quarter. Empowered Funds LLC now owns 329,250 shares of the company's stock valued at $1,409,000 after purchasing an additional 191,580 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Imperial Petroleum by 134.3% in the first quarter. Renaissance Technologies LLC now owns 549,140 shares of the company's stock valued at $2,350,000 after purchasing an additional 314,796 shares during the period. Finally, Sei Investments Co. acquired a new position in shares of Imperial Petroleum in the first quarter valued at approximately $63,000. Institutional investors and hedge funds own 94.44% of the company's stock.

Imperial Petroleum Company Profile

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.

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