Imperial Petroleum (NASDAQ:IMPP) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Imperial Petroleum (NASDAQ:IMPP) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on IMPP. Weiss Ratings restated a “hold (c)” rating on shares of Imperial Petroleum in a report on Wednesday, August 5th. Maxim Group set a $9.00 target price on Imperial Petroleum and gave the stock a “buy” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Imperial Petroleum Stock Performance

Shares of IMPP stock opened at $5.29 on Friday. Imperial Petroleum has a 52 week low of $3.15 and a 52 week high of $6.57. The company has a market capitalization of $241.34 million, a price-to-earnings ratio of 3.39 and a beta of 1.27. The company has a 50-day simple moving average of $4.87 and a 200 day simple moving average of $4.75.

Institutional Trading of Imperial Petroleum

Institutional investors have recently bought and sold shares of the business. Anson Funds Management LP bought a new position in shares of Imperial Petroleum during the fourth quarter worth approximately $15,782,000. Empery Asset Management LP bought a new stake in shares of Imperial Petroleum in the fourth quarter valued at approximately $11,522,000. PEAK6 LLC grew its position in Imperial Petroleum by 1,554.6% during the fourth quarter. PEAK6 LLC now owns 573,278 shares of the company’s stock worth $2,075,000 after buying an additional 538,631 shares in the last quarter. Renaissance Technologies LLC grew its position in Imperial Petroleum by 134.3% during the first quarter. Renaissance Technologies LLC now owns 549,140 shares of the company’s stock worth $2,350,000 after buying an additional 314,796 shares in the last quarter. Finally, Susquehanna Portfolio Strategies LLC bought a new position in Imperial Petroleum during the 4th quarter worth $916,000. Institutional investors 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. 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.