Imperial Petroleum's (IMPP) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "hold (C)" rating for Imperial Petroleum (NASDAQ:IMPP), while other analysts have also shown mixed sentiments about the stock.
• Imperial Petroleum reported impressive quarterly earnings, with earnings per share (EPS) of $0.37, far outpacing the consensus estimate of $0.04.
• The company's stock recently traded up 1.4% to $4.59, with an average price target from analysts set at $6.00.

Imperial Petroleum (NASDAQ:IMPP - Get Free Report)'s stock had its "hold (c)" rating reiterated by equities researchers at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

A number of other research analysts also recently weighed in on the company. Wall Street Zen raised Imperial Petroleum from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Maxim Group increased their price target on Imperial Petroleum from $5.50 to $6.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $6.00.

Imperial Petroleum Stock Up 1.4%

NASDAQ:IMPP traded up $0.07 during trading hours on Tuesday, hitting $4.59. 85,971 shares of the stock were exchanged, compared to its average volume of 243,367. The company's 50 day moving average is $3.92 and its two-hundred day moving average is $3.22. Imperial Petroleum has a twelve month low of $2.12 and a twelve month high of $5.25. The company has a market capitalization of $157.82 million, a P/E ratio of 4.50 and a beta of 1.24.

Imperial Petroleum (NASDAQ:IMPP - Get Free Report) last posted its quarterly earnings data on Friday, September 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $36.35 million for the quarter, compared to the consensus estimate of $29.72 million. During the same quarter in the prior year, the business earned $0.73 EPS.

Hedge Funds Weigh In On Imperial Petroleum

A number of large investors have recently added to or reduced their stakes in the company. Towerview LLC increased its holdings in Imperial Petroleum by 1.8% during the 2nd quarter. Towerview LLC now owns 422,281 shares of the company's stock worth $1,301,000 after purchasing an additional 7,281 shares in the last quarter. Empirical Finance LLC bought a new position in Imperial Petroleum during the 2nd quarter worth about $47,000. Finally, Deuterium Capital Management LLC increased its holdings in 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 in the last quarter. 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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