3,182,951 Shares in Imperial Petroleum Inc. $IMPP Bought by Empery Asset Management LP

Empery Asset Management LP bought a new stake in Imperial Petroleum Inc. (NASDAQ:IMPP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,182,951 shares of the company’s stock, valued at approximately $11,522,000. Imperial Petroleum comprises 10.2% of Empery Asset Management LP’s portfolio, making the stock its 4th largest position. Empery Asset Management LP owned about 8.79% of Imperial Petroleum at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IMPP. Allegheny Financial Group grew its position in Imperial Petroleum by 6.5% in the third quarter. Allegheny Financial Group now owns 83,653 shares of the company’s stock valued at $400,000 after acquiring an additional 5,114 shares during the last quarter. GSA Capital Partners LLP bought a new position in Imperial Petroleum in the third quarter valued at about $755,000. Two Sigma Investments LP bought a new position in Imperial Petroleum in the third quarter valued at about $90,000. Mercer Global Advisors Inc. ADV grew its position in Imperial Petroleum by 14.3% in 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. Finally, GK Wealth Management LLC bought a new position in Imperial Petroleum in the fourth quarter valued at about $46,000. Institutional investors own 94.44% of the company’s stock.

Imperial Petroleum Trading Up 1.9%

Shares of IMPP stock opened at $5.28 on Thursday. The business’s 50-day moving average price is $4.83 and its 200-day moving average price is $4.37. Imperial Petroleum Inc. has a 12 month low of $2.90 and a 12 month high of $6.57. The firm has a market capitalization of $191.24 million, a price-to-earnings ratio of 3.38 and a beta of 1.24.

Analyst Upgrades and Downgrades

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