Imperial Petroleum Inc. $IMPP Stock Position Lessened by Anson Funds Management LP

Key Points

• Anson Funds Management reduced its Imperial Petroleum position by 20.5% in the first quarter, selling 893,079 shares. It still held 3.47 million shares, representing about 9.57% of the company and 1.3% of its portfolio.
• Institutional investors own 94.44% of Imperial Petroleum, with several firms initiating new positions during the quarter.
• Analyst sentiment is mixed but leans positive: Imperial Petroleum has a consensus “Moderate Buy” rating and a $9.00 target price, while shares recently opened at $4.69.

Anson Funds Management LP cut its position in shares of Imperial Petroleum Inc. (NASDAQ:IMPP - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,466,680 shares of the company's stock after selling 893,079 shares during the quarter. Imperial Petroleum accounts for 1.3% of Anson Funds Management LP's portfolio, making the stock its 21st largest position. Anson Funds Management LP owned about 9.57% of Imperial Petroleum worth $14,837,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mcguire Capital Advisors Inc. purchased a new position in Imperial Petroleum in the 4th quarter worth about $25,000. Investment Management Associates Inc. ADV acquired a new position in shares of Imperial Petroleum in the first quarter worth about $51,000. Cetera Investment Advisers acquired a new position in shares of Imperial Petroleum in the first quarter worth about $55,000. Sei Investments Co. purchased a new position in shares of Imperial Petroleum in the first quarter worth approximately $63,000. Finally, State of Wyoming purchased a new position in shares of Imperial Petroleum in the first quarter worth approximately $70,000. Institutional investors and hedge funds own 94.44% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IMPP. Weiss Ratings lowered shares of Imperial Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Imperial Petroleum from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. Finally, Maxim Group set a $9.00 price objective on shares of Imperial Petroleum and gave the company a "buy" rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.

Imperial Petroleum Stock Performance

Shares of Imperial Petroleum stock opened at $4.69 on Thursday. Imperial Petroleum Inc. has a 1 year low of $2.90 and a 1 year high of $6.57. The company's fifty day simple moving average is $5.00 and its 200-day simple moving average is $4.51. The company has a market cap of $169.87 million, a price-to-earnings ratio of 3.01 and a beta of 1.26.

Imperial Petroleum 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.

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