Imperial Petroleum (NASDAQ:IMPP) Shares Down 1.9% – Here’s Why

Imperial Petroleum Inc. (NASDAQ:IMPP) was down 1.9% during mid-day trading on Wednesday . The stock traded as low as $3.55 and last traded at $3.64. Approximately 478,586 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 455,249 shares. The stock had previously closed at $3.71.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Imperial Petroleum from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Imperial Petroleum in a report on Wednesday, December 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Imperial Petroleum Price Performance

The business has a 50-day moving average of $4.43 and a 200 day moving average of $4.20. The company has a market cap of $131.84 million, a PE ratio of 3.50 and a beta of 1.29.

Imperial Petroleum (NASDAQ:IMPP) last announced its earnings results on Thursday, December 11th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.21. Imperial Petroleum had a return on equity of 13.60% and a net margin of 28.61%.The business had revenue of $41.20 million for the quarter, compared to analysts’ expectations of $41.20 million.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IMPP. Deuterium Capital Management LLC boosted its stake 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 acquiring an additional 48,362 shares during the last quarter. Towerview LLC raised its holdings in Imperial Petroleum by 1.8% in 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 during the period. Mercer Global Advisors Inc. ADV raised its holdings in Imperial Petroleum by 14.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 160,000 shares of the company’s stock worth $765,000 after purchasing an additional 20,000 shares during the period. GSA Capital Partners LLP purchased a new position in Imperial Petroleum during the third quarter valued at $755,000. Finally, Allegheny Financial Group grew its holdings in Imperial Petroleum by 6.5% during the third quarter. Allegheny Financial Group now owns 83,653 shares of the company’s stock valued at $400,000 after purchasing an additional 5,114 shares during the period. 94.44% of the stock is currently owned by 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. As of April 1, 2024, the company owned and operated a fleet of six medium range refined petroleum product tankers; one Aframax tanker; two suezmax tankers; and two handysize drybulk carriers with a total capacity of 791,000 deadweight tons.