Imperial Petroleum (NASDAQ:IMPP) Stock Crosses Below 200-Day Moving Average – What’s Next?

Imperial Petroleum Inc. (NASDAQ:IMPP) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred 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.

Wall Street Analyst Weigh In

IMPP has been the subject of a number of research reports. Weiss Ratings raised shares of Imperial Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, September 16th. Wall Street Zen downgraded shares of Imperial Petroleum from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Imperial Petroleum has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Imperial Petroleum Stock Down 8.3%

The business’s 50 day simple moving average is $5.25 and its two-hundred day simple moving average is $4.72. The stock has a market cap of $213.05 million, a P/E ratio of 2.45 and a beta of 1.27.

Imperial Petroleum (NASDAQ:IMPP) last announced 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. Imperial Petroleum had a net margin of 36.76% and a return on equity of 16.92%. The company had revenue of $87.07 million during the quarter, compared to the consensus estimate of $72.07 million.

Institutional Investors Weigh In On Imperial Petroleum

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in Imperial Petroleum by 134.3% in the 1st quarter. Renaissance Technologies LLC now owns 549,140 shares of the company’s stock worth $2,350,000 after purchasing an additional 314,796 shares in the last quarter. WINTON GROUP Ltd bought a new position in Imperial Petroleum in the second quarter valued at about $1,319,000. Empowered Funds LLC raised its position in Imperial Petroleum by 139.2% in the first quarter. Empowered Funds LLC now owns 329,250 shares of the company’s stock valued at $1,409,000 after purchasing an additional 191,580 shares during the last quarter. NewEdge Advisors LLC bought a new position in Imperial Petroleum in the second quarter valued at about $327,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Imperial Petroleum by 6.9% during the third quarter. Farther Finance Advisors LLC now owns 425,302 shares of the company’s stock valued at $2,173,000 after purchasing an additional 27,602 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

Imperial Petroleum Company Profile

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.