Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I hear what you are saying but the intercompany transactions are what is holding IMPP back. The company is going to spend $70 million plus to purchase two tankers from Harry. Most everything seems to get bought from Harry at a premium and sold to Harry at a discount. Shareholders are ones who suffer when that happens and Harry can make up the losses on his common shares by issuing dividends to himself.
If you have ever sat in on an Imperial Petroleum conference call in the past, every time the floor was opened up to questions, Harry was always put on the spot by a disgruntled shareholder or two. I did not participate in this particular conference call so I do not know if they prohibited having a Q&A session. I will just trust what you have stated.
I can say that from what I did read throughout their earnings report, I can't see anything negative. I posted my concise synopsis of the earnings and why I feel this stock is and will continue to be grossly oversold.
The chart is still very much intact as well.
The fact that no questions were allowed to be asked in the presentation is a bit of a problem. Does Harry have something he doesn’t want to talk about?
Yes $124 MILLION dollars in cash, zero debt, 9+ vessels (and growing). Year end revenue increased by 89.4%, net income by 141%. Cash on hand $124M. Trading at $52M market cap. Company repurchased $10M worth shares. 75% short interest. Not sure how they are going to cover. A recent capital raise was concluded and there was no substantial sell-off on the shares due to dilution. In fact, our share price has doubled in just a few months. The chart looks beautiful and although it would appear to someone not knowledgeable in the space, that the pattern is "overbought', we have had days where retracement down to support has been tested and retested - and has so far, held it's ground. I'm not really certain what shareholders were expecting out of earnings but they were absolutely incredible. I would like to think that we can make another test through the $3.60 level prior to increased volume and larger institutional investment here.
Wow IMPP ! For the 12 months ended December 31, 2023, revenues were $183.7 million, up 89.4% from the previous year, while net income increased by 141% to $71.1 million. The company held $124 million in cash and equivalents as of December 31, 2023.
GLTA !
CEO Harry Vafias Commented:
“Since our Company’s listing, we managed to almost triple our fleet, accumulate more than $100 million of cash, pay off all of our bank loans and excel in terms of profits. For 2023, our profitability was $71.1 million, that is 141% higher than 2022. Since September 2023, we have commenced a sharebuyback program. To date, we have purchased 4.3 million common shares and 5.8 million of outstanding warrants for a total consideration of approximately $10 million while, since the commencement of our share buyback program, our share price has doubled.”
Conference Call details:
On February 13, 2023 at 11:00 am ET, the company’s management will host a conference call to discuss the results and the company’s operations and outlook.
Online Registration:
Conference call participants should pre-register using the below link to receive the dial-in numbers and a personal PIN, which are required to access the conference call.
https://register.vevent.com/register/BIb0d71756a48d45f7bcfb53165f7242da
Slides and audio webcast:
There will also be a live and then archived webcast of the conference call, through the IMPERIAL PETROLEUM INC. website (www.ImperialPetro.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.
Nice to see IMPP re-test true support in the $2.90's then regain her footing back into the $3.20s today.
These stair-step patterns bode well for the longer term chart. Harry just needs to keep his mind off of unecessary capital raises using stock as cash to fund expansion.
It would be wonderful to trade up and over $5 and recapture institutional interest
Yes that's the support level and we have retested the $3.60 resistance level a couple of times on fairly high volume I may add.
This means that there are millions upon millions of shares owned substantially above $3.20 - $3.50's and that bodes well for the shares moving forward. I'm just holding on to my position. I will not be adding in the event that support is breached to the downside. This company has enough cash, especially after that last offering and I honestly don't think they wish to perform another capital raise via tapping the equity markets. But stranger things have happened. Like you said, this is a Greek shipper and this CEO has been known to do shocking things to disrupt the upward trajectory of the stock
.
Support should be around
$2.92 . If it breaks through that on volume then look out below.
I bet this forum will begin to get a bit more active if and when we ever break through the $4 resistance level. That is absolute true resistance. And if our CEO chooses to no longer perform dilutive capital raises, and keeps the share structure intact then we have a decent shot at heading back to the $5 - $6 level where institutional investors might find us more attractive
More pullback today down to the $3.30s
Not everything goes straight up. You have to have profit taking along the way. It looks like profit taking is on much lower volume than when we are pushing up.
Looking forward to a re-test of the mid to high $3's in the days to come
yayyyyyyyyyyyyyyyyyyyyyyy for you smilin b!!!!!!!!
3.57
$3.30's and $3.40's today.
Building nice support over previous $2.92 and $3 resistance
I don’t think many shareholders have noticed that the OS count has doubled since the end of April. Conversion of preferred shares has happened.
This company has mastered the art of buying back shares when the price is low and raising money thru the issuance of shares when the prices are higher.
In other words, they are essentially shorting their own stock. Sell high, then cover and buy back shares when it’s low. Accomplish it by inter company transactions and various self dealings. I suspect another offering is on the horizon. I’d imagine they are still waiting on the herd to find their stock, so current longs have some time imo.
A Greek masterpiece.
And here we go back through the $3.20 resistance area
Seems like we smoked out most of the day traders and hopefully resistance becomes new support
Yes it's getting crazy. During covid shipping rates were up 15x
Guess we will see how this impacts Imperial petroleum's Q4 earnings when they are announced.
I'm hard-pressed to think that this CEO will perform any type of capital raise with the amount of cash we have on hand from the last one. We are trading at a ridiculously low multiple
Hopefully all of the short-term traders have locked in their gains and trailing stop losses have been triggered by today
"they" traded it all the way down to the original prior resistance level which was exactly $2.92
Back near the August 2023 top. Can it breakthrough or are we seeing a double top?
Likely at an inflection point where the move will either take price to $4 or return it to $2.40 imo.
Have u seen $CISS? -16.5% today @ $0.485/share and you sold around $5 per share and I sold around $4 per share
IMPP is by far the better investment but now I'm starting to look at $CISS from an oversold standpoint. Just waiting for the chart to be completely destroyed and then showing signs of a reversal on $CISS
Typical to see short-term traders taking profits and hopefully they will not sell it down beneath our new support level of approximately $2.92 and $3
$3.20's - looking decent today after that intense several week standoff trying to breach $2.92 resistance
I hope most of the short-term traders have exited super fat gains from the mid to high $1's and are moving on into something else. Looking forward to clearing that $3 resistance on the way to the next obvious resistance wall at $4
The longer it stays in the 2.90 level , the better chance is has to bust thru (on volume).
I’m always wary that they will drop an offering at any time during this surge as that has been their modus operandi for quotes some time. Raise cash when stock price is high , sell their personal shares or convert preferred stock and then do stock buybacks when they are done offloading.
Essentially shorting their own stock. Legal but suspect. Greek shippers have perfected this tactic. Just have to know how to trade ‘em.
Let's see if IMPP can't break this $2.92 resistance
Another worthless post.
I wonder if you are actually happy with your life
Try BoilerRoom.com
Decent volume as of late as accumulation continues in the $2.70 - $2.85 range. It's safe to say that the short-term traders have exited with tidy profits from the high $1's and low $2's. Corporate BuyBacks probably helped elevate our share price in spite of the conversions that recently took place. But that's just less debt off of our balance sheet. Can't wait to see our cash position and revenues moving forward into the new year. Looking forw
ard to an ultimate trend reversal over the massive $4 resistance.
Gap has been filled so I would expect some retracement back to under $2.40.
Seems $2.93 is the number to clear in order to make $3 our new support level
That would be a decent start yes
Hope wee see IMPP $4+ in 2024
Seeing as how that PR came out at 9:20am pre market and the shares hit the $2.90's on volume, apparently the conversion news wasn't seen as a negative event
December 22 2023 - 09:20AM
It's possible if they have yet to dispose of those shares into the open market (if they already decided or decide to do so). The PR is pretty vague
harry burned too many investors it appears b
I find it highly odd that no one is posting on this forum considering the strength of Imperial Petroleum's trend reversal.
Does anyone know of another forum where this company and its stock can be intelligently discussed?
Looks like we've found a base in the $2.50 area to up trend off of.
Hit $2.90 earlier but got some profit taking by short term scalpers.
Looking forward to a breach of $3 on our way to $4 resistance
Yes most of us are still deep underwater and would like to see IMPP run to the $3.50 - $450 level
Sounds good with my avg $4.24 !
(and of course will not add to avg down)...
GLTA
Short of some type of disastrous decision by our CEO to raise Capital which is completely unnecessary due to the cash on hand and the company's statement that they are repurchasing shares themselves, I don't see a reason why this uptrend should reverse to any degree of significance. There will be profit taking along the way and we will have days where we are down 2% - 5% followed by higher volume days of recovery. Looking forward to $2.50 becoming firm support and then hopefully in the new year we breach the $3 and $4 resistance levels
Followers
|
87
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
6927
|
Created
|
01/27/22
|
Type
|
Free
|
Moderators |
ABOUT IMPERIAL PETROLEUM INC.
Our Business Strategy
Our business strategy is focused on providing consistent stockholder returns by timing and structuring acquisitions of vessels and by reliably, safely and efficiently operating our vessels. We continuously evaluate purchase and sale opportunities, as well as employment opportunities for our vessels. Key elements of the above strategy are:
• | Renew and Expand our Fleet. We expect to grow our fleet in a disciplined manner through timely and selective acquisitions of quality vessels. We perform in-depth technical and condition assessment review of each potential acquisition and only purchase vessels as market opportunities present themselves. We focus on purchasing secondhand vessels, newbuildings or newbuilding resales based on the evaluation of each investment option at the time it is made. |
• | Optimize Charter Mix. In the current product tanker and crude oil tanker charter market, we are mainly focusing on short to medium term charters, including time and bareboat charters, of one or two years. As the charter market changes and we grow our fleet, we may continue to adjust our chartering strategy to include longer duration term charters or a higher percentage of spot market charters. We seek to |
ATHENS, Greece, May 27, 2022 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. (NASDAQ:IMPP) (the "Company") announced today that it has entered into an agreement to acquire two suezmax tankers, built at Hyundai Samho in 2007 and at Samsung Heavy Industries in 2008, with an aggregate capacity of approximately 320,000 dwt, from an unaffiliated third party for an aggregate purchase price of $46.8 million, with delivery expected by mid- June 2022. The Company expects to finance the purchase price with cash-on-hand and new senior secured bank debt. This transaction is indicative of the Company's substantial financial resources to consummate new vessel acquisitions due to its high level of available cash raised from its recently completed public offerings. This agreement is consistent with the company's plan to continue its fleet expansion.
ABOUT IMPERIAL PETROLEUM INC.
Imperial Petroleum Inc. is a ship-owning company providing petroleum product and crude oil seaborne transportation services. The Company owns four M.R. product tankers and one Aframax oil tanker with a total capacity of 305,804 deadweight tons (dwt) and has agreed to acquire one additional product tanker and two suezmax tankers with expected delivery by mid-June 2022. Following these deliveries Imperial Petroleum will own a total of eight tankers with an aggregate capacity of approximately 682,000 dwt. Imperial Petroleum Inc.'s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols "IMPP" and "IMPPP", respectively.
7
charter our vessels to high quality charterers as we have done in the past such as national and independent oil companies, energy traders and industrial companies. |
• | Operate a High Quality Fleet. Our primary focus is the operation of medium and large-sized product tankers and crude oil tankers, and as we grow our fleet in the future potentially add vessels in other seaborne transportation sectors that we assess as exhibiting favorable market conditions. We believe that owning a high quality fleet reduces operating costs, improves safety and provides us with a competitive advantage in securing favorable charters. We limit our acquisition of vessels to those that meet rigorous industry standards and that are capable of meeting the stringent certification requirements of major oil companies. We maintain the quality of our vessels by carrying out regular inspections, both while in port and at sea, and adopting a comprehensive maintenance program for each vessel. |
• | Maintain Financial Flexibility. We intend to use bank debt to partially fund our further vessel acquisitions and which we hope will increase financial returns for our stockholders. We intend to manage our balance sheet to maintain an adequate level of liquidity and actively assess the level and maturity profile of debt we incur in light of the level of cash flow generated from our chartering strategy and our efficient operating cost structure. We have moderate leverage which we believe will well position us to obtain additional financing and grow our fleet by pursuing selective acquisitions. |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |