Imperial Petroleum (NASDAQ:IMPP) Price Target Raised to $6.00 at Maxim Group

Key Points

• Maxim Group has raised its price target for Imperial Petroleum from $5.50 to $6.00, indicating a potential upside of 54.04% from the stock's previous close.
• Imperial Petroleum reported earnings of $0.37 per share for the last quarter, significantly beating the analysts' consensus estimates of $0.04.
• Currently, 94.44% of Imperial Petroleum's stock is owned by institutional investors, showing strong investment interest in the company.

Imperial Petroleum (NASDAQ:IMPP - Free Report) had its price target increased by Maxim Group from $5.50 to $6.00 in a report released on Wednesday, MarketBeat.com reports. They currently have a buy rating on the stock.

Imperial Petroleum Price Performance

Shares of NASDAQ:IMPP traded up $0.22 during trading hours on Wednesday, hitting $4.69. 444,702 shares of the company's stock traded hands, compared to its average volume of 226,020. Imperial Petroleum has a 1 year low of $2.12 and a 1 year high of $4.75. The business has a fifty day moving average price of $3.25 and a 200-day moving average price of $2.89. The firm has a market capitalization of $161.43 million, a P/E ratio of 4.60 and a beta of 1.14.

Imperial Petroleum (NASDAQ:IMPP - Get Free Report) last announced its earnings results on Friday, September 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.33. Imperial Petroleum had a return on equity of 13.80% and a net margin of 29.79%.The business had revenue of $36.35 million during the quarter, compared to analyst estimates of $29.72 million. During the same quarter in the previous year, the business earned $0.73 earnings per share.

Institutional Trading of Imperial Petroleum

A number of large investors have recently modified their holdings of the company. Deuterium Capital Management LLC boosted its holdings in shares of Imperial Petroleum by 3.1% in the second quarter. Deuterium Capital Management LLC now owns 1,601,812 shares of the company's stock valued at $4,934,000 after purchasing an additional 48,362 shares during the period. Wexford Capital LP boosted its holdings in shares of Imperial Petroleum by 91.7% in the fourth quarter. Wexford Capital LP now owns 598,473 shares of the company's stock valued at $1,801,000 after purchasing an additional 286,272 shares during the period. Towerview LLC boosted its holdings in shares of Imperial Petroleum by 1.8% in the second quarter. Towerview LLC now owns 422,281 shares of the company's stock valued at $1,301,000 after purchasing an additional 7,281 shares during the period. Bank of America Corp DE boosted its holdings in shares of Imperial Petroleum by 36.2% in the fourth quarter. Bank of America Corp DE now owns 55,785 shares of the company's stock valued at $168,000 after purchasing an additional 14,822 shares during the period. Finally, Squarepoint Ops LLC bought a new position in Imperial Petroleum in the fourth quarter worth approximately $147,000. Hedge funds and other institutional investors own 94.44% of the company's stock.

Imperial Petroleum Company 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.