Imperial Petroleum (NASDAQ:IMPP) Upgraded by Wall Street Zen to Buy Rating

Imperial Petroleum (NASDAQ:IMPP) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other research analysts have also issued reports about the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Imperial Petroleum in a report on Saturday, September 27th. Maxim Group boosted their price objective on shares of Imperial Petroleum from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $6.00.

Imperial Petroleum Stock Performance

Shares of NASDAQ:IMPP opened at $4.77 on Friday. The business’s fifty day moving average price is $3.73 and its two-hundred day moving average price is $3.13. The stock has a market cap of $164.16 million, a PE ratio of 4.68 and a beta of 1.24. Imperial Petroleum has a one year low of $2.12 and a one year high of $5.25.

Imperial Petroleum (NASDAQ:IMPP) last released its quarterly earnings results on Friday, September 5th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.33. The company 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 period in the previous year, the firm posted $0.73 earnings per share.

Institutional Trading of Imperial Petroleum

A number of institutional investors have recently added to or reduced their stakes in IMPP. Mackenzie Financial Corp acquired a new stake in Imperial Petroleum in the 4th quarter valued at $35,000. Empirical Finance LLC acquired a new stake in shares of Imperial Petroleum in the second quarter valued at about $47,000. Squarepoint Ops LLC purchased a new stake in shares of Imperial Petroleum during the 4th quarter valued at about $147,000. Bank of America Corp DE raised its holdings in shares of Imperial Petroleum by 36.2% during 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. Finally, Towerview LLC lifted its position in Imperial Petroleum by 15.3% during the 1st quarter. Towerview LLC now owns 415,000 shares of the company’s stock worth $1,017,000 after acquiring an additional 55,000 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

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.