Imperial Petroleum (NASDAQ:IMPP) Upgraded to "Buy" at Wall Street Zen

Key Points

• Imperial Petroleum was upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting growing confidence in the company's performance.
• The company reported $0.37 earnings per share, significantly surpassing the consensus estimate of $0.04, along with a revenue of $36.35 million for the quarter.
• Maxim Group increased its target price for Imperial Petroleum from $5.50 to $6.00, aligning with the stock's average target and market perception.

Imperial Petroleum (NASDAQ:IMPP - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other research firms have also issued reports on IMPP. Maxim Group boosted their target price on Imperial Petroleum from $5.50 to $6.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Imperial Petroleum in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $6.00.

Imperial Petroleum Price Performance

Shares of Imperial Petroleum stock opened at $4.77 on Friday. The business has a 50-day moving average of $3.73 and a 200 day moving average of $3.12. The stock has a market capitalization of $164.18 million, a price-to-earnings ratio of 4.68 and a beta of 1.24. Imperial Petroleum has a 12 month low of $2.12 and a 12 month high of $5.25.

Imperial Petroleum (NASDAQ:IMPP - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $36.35 million during the quarter, compared to analysts' expectations of $29.72 million. Imperial Petroleum had a return on equity of 13.80% and a net margin of 29.79%.During the same quarter last year, the business posted $0.73 EPS.

Institutional Trading of Imperial Petroleum

Several hedge funds have recently added to or reduced their stakes in IMPP. Deuterium Capital Management LLC lifted its position in shares of Imperial Petroleum by 3.1% during the 2nd quarter. Deuterium Capital Management LLC now owns 1,601,812 shares of the company's stock worth $4,934,000 after purchasing an additional 48,362 shares during the last quarter. Towerview LLC increased its holdings in 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 grew its stake in shares of Imperial Petroleum by 36.2% in the 4th quarter. Bank of America Corp DE now owns 55,785 shares of the company's stock valued at $168,000 after buying an additional 14,822 shares during the period. Squarepoint Ops LLC bought a new stake in Imperial Petroleum in the fourth quarter worth $147,000. Finally, Empirical Finance LLC purchased a new stake in Imperial Petroleum in the second quarter worth $47,000. 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.

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