Imperial Petroleum (IMPP) Projected to Announce Earnings on Wednesday

Imperial Petroleum (NASDAQ:IMPP) is expected to release its resultson Wednesday, July 29th. Analysts expect Imperial Petroleum to post earnings of $0.7280 per share and revenue of $72.0660 million for the quarter.

Imperial Petroleum Price Performance

IMPP opened at $4.74 on Wednesday. The company’s 50 day simple moving average is $5.02 and its two-hundred day simple moving average is $4.46. Imperial Petroleum has a 1-year low of $2.90 and a 1-year high of $6.57. The firm has a market capitalization of $171.68 million, a price-to-earnings ratio of 3.04 and a beta of 1.26.

Institutional Trading of Imperial Petroleum

Institutional investors and hedge funds have recently bought and sold shares of the stock. Susquehanna Portfolio Strategies LLC purchased a new position in Imperial Petroleum during the fourth quarter worth about $916,000. Renaissance Technologies LLC increased its position in shares of Imperial Petroleum by 4.8% during the fourth quarter. Renaissance Technologies LLC now owns 234,344 shares of the company’s stock valued at $848,000 after acquiring an additional 10,648 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Imperial Petroleum by 14.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 160,000 shares of the company’s stock valued at $765,000 after acquiring an additional 20,000 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Imperial Petroleum in the 4th quarter valued at approximately $717,000. Finally, Millennium Management LLC purchased a new stake in shares of Imperial Petroleum in the 4th quarter valued at approximately $708,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on IMPP. Weiss Ratings cut Imperial Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Wall Street Zen upgraded Imperial Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Finally, Maxim Group set a $9.00 price objective on Imperial Petroleum and gave the stock a “buy” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.00.

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.