Imperial Petroleum (NASDAQ:IMPP) Shares Break Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Imperial Petroleum shares fell below their 200-day moving average, trading as low as $4.66 and last changing hands at $4.67, down 8.3%. The stock’s 50-day and 200-day moving averages are $5.25 and $4.72, respectively.
• Despite the technical weakness, analysts maintain a “Moderate Buy” consensus, with one Buy and one Hold rating and an average price target of $9.00.
• Imperial Petroleum recently exceeded quarterly expectations, reporting $0.76 EPS versus $0.73 expected and revenue of $87.07 million versus the $72.07 million consensus estimate. Institutional investors own 94.44% of the company’s shares.

Imperial Petroleum Inc. (NASDAQ:IMPP - Get Free Report) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $4.72 and traded as low as $4.66. Imperial Petroleum shares last traded at $4.67, with a volume of 476,544 shares changing hands.

Wall Street Analyst Weigh In

IMPP has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Imperial Petroleum from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, September 16th. Wall Street Zen cut Imperial Petroleum from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 26th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.00.

Imperial Petroleum Trading Down 8.3%

The firm's 50-day moving average price is $5.25 and its 200 day moving average price is $4.72. The company has a market capitalization of $213.05 million, a price-to-earnings ratio of 2.45 and a beta of 1.27.

Imperial Petroleum (NASDAQ:IMPP - Get Free Report) last posted its quarterly earnings results on Thursday, September 10th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.03. The business had revenue of $87.07 million for the quarter, compared to analyst estimates of $72.07 million. Imperial Petroleum had a net margin of 36.76% and a return on equity of 16.92%.

Institutional Investors Weigh In On Imperial Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMPP. Investment Management Associates Inc. ADV bought a new position in shares of Imperial Petroleum in the 1st quarter valued at $51,000. Cetera Investment Advisers acquired a new position in shares of Imperial Petroleum during the 1st quarter worth $55,000. Sei Investments Co. acquired a new position in shares of Imperial Petroleum during the 1st quarter worth $63,000. State of Wyoming acquired a new position in shares of Imperial Petroleum during the 1st quarter worth $70,000. Finally, R Squared Ltd bought a new stake in shares of Imperial Petroleum during the 1st quarter worth $77,000. 94.44% of the stock is currently owned by institutional investors.

About Imperial Petroleum

Imperial Petroleum Inc NASDAQ: IMPP is a maritime transportation company focused on the ownership and operation of tanker vessels. The company transports crude oil, refined petroleum products and other liquid cargoes for customers in the international energy and shipping markets.

Based in Athens, Greece, Imperial Petroleum operates vessels that serve global shipping routes. Its fleet has included crude oil tankers and product tankers, which are used to move petroleum and petroleum-derived products between ports and energy markets worldwide.

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