Heidmar Maritime (NASDAQ:HMR) Price Target Lowered to $3.00 at B. Riley Financial

Heidmar Maritime (NASDAQ:HMR) had its price objective trimmed by B. Riley Financial from $5.00 to $3.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Heidmar Maritime Stock Down 4.5%

Shares of HMR opened at $0.82 on Wednesday. The firm has a market capitalization of $47.71 million and a PE ratio of -2.09. The firm has a 50-day moving average price of $0.93 and a 200 day moving average price of $1.08. Heidmar Maritime has a 52-week low of $0.76 and a 52-week high of $3.78.

Heidmar Maritime (NASDAQ:HMR) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The company had revenue of $25.08 million for the quarter, compared to the consensus estimate of $16.27 million. Heidmar Maritime had a negative return on equity of 19.19% and a negative net margin of 40.20%.

About Heidmar Maritime

Heidmar Maritime Inc (NASDAQ: HMR) is a global provider of commercial and technical management services for oil and chemical tanker vessels. The company specializes in the operation of crude oil, refined products and chemical tankers under both time charter and voyage charter arrangements. Through its proprietary tanker pools, Heidmar offers owners and charterers enhanced vessel utilization and competitive freight rates by aggregating capacity and optimizing employment across global trade lanes.

Founded in 1993 and headquartered in Hamilton, Bermuda, Heidmar Maritime operates a modern, double‐hull fleet that includes a mix of very large crude carriers (VLCCs), Suezmax tankers, Aframaxes and medium range (MR) product vessels.