Imperial Petroleum (IMPP) Expected to Announce Quarterly Earnings on Wednesday

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

Imperial Petroleum Stock Performance

Shares of Imperial Petroleum stock opened at $4.76 on Monday. The firm has a market capitalization of $172.41 million, a PE ratio of 3.05 and a beta of 1.26. Imperial Petroleum has a twelve month low of $2.90 and a twelve month high of $6.57. The firm’s 50-day moving average price is $5.01 and its 200 day moving average price is $4.49.

Wall Street Analyst Weigh In

A number of brokerages have commented on IMPP. Wall Street Zen raised Imperial Petroleum from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Maxim Group set a $9.00 price target on Imperial Petroleum and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings cut Imperial Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $9.00.

Hedge Funds Weigh In On Imperial Petroleum

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in Imperial Petroleum during the 4th quarter valued at about $102,000. Mcguire Capital Advisors Inc. purchased a new position in Imperial Petroleum in the 4th quarter worth approximately $25,000. Empowered Funds LLC purchased a new position in Imperial Petroleum in the 4th quarter worth approximately $498,000. Susquehanna Portfolio Strategies LLC acquired a new position in shares of Imperial Petroleum during the 4th quarter worth approximately $916,000. Finally, Millennium Management LLC acquired a new position in shares of Imperial Petroleum during the 4th quarter worth approximately $708,000. 94.44% of the stock is currently owned by institutional investors and hedge funds.

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.