Heidmar Maritime (NASDAQ:HMR) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Heidmar Maritime (NASDAQ:HMR) from a hold rating to a strong sell rating in a research report released on Wednesday morning,Zacks.com reports.

Separately, B. Riley Financial cut their target price on shares of Heidmar Maritime from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $3.00.

Heidmar Maritime Trading Up 2.2%

NASDAQ:HMR opened at $0.83 on Wednesday. The stock has a market capitalization of $48.66 million and a PE ratio of -2.14. Heidmar Maritime has a 1-year low of $0.76 and a 1-year high of $3.55. The firm has a fifty day simple moving average of $0.93 and a 200 day simple moving average of $1.07.

Heidmar Maritime (NASDAQ:HMR) last posted its quarterly earnings results on Tuesday, March 24th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.12). The firm 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.