Imperial Petroleum (NASDAQ:IMPP) Rating Lowered to “Hold” at Wall Street Zen

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

Other research analysts have also issued reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Imperial Petroleum in a research note on Tuesday, October 14th. Maxim Group boosted their target price on shares of Imperial Petroleum from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Imperial Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Imperial Petroleum Trading Down 0.7%

IMPP stock opened at $4.57 on Friday. Imperial Petroleum has a 1-year low of $2.12 and a 1-year high of $6.57. The firm has a market cap of $165.53 million, a P/E ratio of 4.48 and a beta of 1.27. The business’s 50 day moving average is $5.24 and its 200-day moving average is $4.00.

Imperial Petroleum (NASDAQ:IMPP) last posted its earnings results on Friday, September 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.04 by $0.33. The business had revenue of $36.35 million during the quarter, compared to the consensus estimate 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 company earned $0.73 EPS.

Hedge Funds Weigh In On Imperial Petroleum

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allegheny Financial Group grew its holdings in shares of Imperial Petroleum by 6.5% during the third quarter. Allegheny Financial Group now owns 83,653 shares of the company’s stock worth $400,000 after purchasing an additional 5,114 shares during the last quarter. Towerview LLC lifted its position 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 buying an additional 7,281 shares in the last quarter. Empirical Finance LLC acquired a new position in Imperial Petroleum during the 2nd quarter worth about $47,000. Two Sigma Investments LP bought a new stake in Imperial Petroleum during the 3rd quarter worth about $90,000. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Imperial Petroleum by 14.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 160,000 shares of the company’s stock worth $765,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

About Imperial Petroleum

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.