Imperial Petroleum (NASDAQ:IMPP) Price Target Raised to $6.00

Imperial Petroleum (NASDAQ:IMPP) had its price target lifted by Maxim Group from $5.50 to $6.00 in a research note released on Wednesday, MarketBeat.com reports. They currently have a buy rating on the stock.

Imperial Petroleum Stock Performance

Shares of IMPP opened at $4.47 on Wednesday. The company’s fifty day moving average is $3.25 and its 200 day moving average is $2.88. Imperial Petroleum has a fifty-two week low of $2.12 and a fifty-two week high of $4.75. The stock has a market capitalization of $153.86 million, a PE ratio of 4.38 and a beta of 1.14.

Imperial Petroleum (NASDAQ:IMPP) last posted its quarterly earnings data on Friday, September 5th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.33. Imperial Petroleum had a net margin of 29.79% and a return on equity of 13.80%. The business had revenue of $36.35 million for the quarter, compared to analysts’ expectations of $29.72 million. During the same quarter in the previous year, the business posted $0.73 earnings per share.

Institutional Trading of Imperial Petroleum

A number of large investors have recently made changes to their positions in the stock. Deuterium Capital Management LLC boosted its stake in shares of Imperial Petroleum by 3.1% during the second quarter. Deuterium Capital Management LLC now owns 1,601,812 shares of the company’s stock valued at $4,934,000 after purchasing an additional 48,362 shares during the period. Wexford Capital LP boosted its stake in shares of Imperial Petroleum by 91.7% during the fourth quarter. Wexford Capital LP now owns 598,473 shares of the company’s stock valued at $1,801,000 after purchasing an additional 286,272 shares during the period. Towerview LLC boosted its stake in shares of Imperial Petroleum by 1.8% during the second quarter. Towerview LLC now owns 422,281 shares of the company’s stock valued at $1,301,000 after purchasing an additional 7,281 shares during the period. Bank of America Corp DE boosted its stake in shares of Imperial Petroleum by 36.2% during the fourth quarter. Bank of America Corp DE now owns 55,785 shares of the company’s stock valued at $168,000 after purchasing an additional 14,822 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Imperial Petroleum during the fourth quarter valued at $147,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

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.