Imperial Petroleum: New Recovery Highs Following Strong Q1 Performance - Buy [Seeking Alpha]
Imperial Petroleum Inc. - Common Shares (IMPP)
Company Research
Source: Seeking Alpha
On Thursday, the company reported decent Q1/2024 results with improved fleet utilization and strong cash flow generation. Imperial Petroleum commands a best-in-class balance sheet with pro forma cash and short-term investments of $150 million and no debt. Even after the recent rally in the shares, the company continues to trade at a large discount to estimated net asset value. With the shares about to break out to new recovery highs above $4 and charter rates widely expected to remain strong, I am reiterating my "Buy" rating. Note: I have covered Imperial Petroleum Inc. NASDAQ: IMPP IMPPP ) previously, so investors should view this as an update to my earlier articles on the company. Following several quarters of relentless dilution, Greece-based tanker and dry bulk vessel operator Imperial Recommended For You Recommended For You About IMPP Stock More on IMPP Related Stocks Trending Analysis Trending News
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IMPP
News
- IMPERIAL PETROLEUM INC. Declares Dividend on Series A Preferred SharesGlobeNewswire
- The one-year earnings decline is not helping Imperial Petroleum's (NASDAQ:IMPP share price, as stock falls another 12% in past week [Yahoo! Finance]Yahoo! Finance
- Imperial Petroleum Inc. Reports First Quarter 2024 Financial and Operating Results [Yahoo! Finance]Yahoo! Finance
- Imperial Petroleum Inc. Reports First Quarter 2024 Financial and Operating ResultsGlobeNewswire
- Imperial Petroleum Inc. Announces the Date for the Release of First Quarter 2024 Financial and Operating Results, Conference Call and WebcastGlobeNewswire
IMPP
Sec Filings
- 5/24/24 - Form 424B3
- 5/24/24 - Form 424B3
- 5/24/24 - Form 424B3
- IMPP's page on the SEC website