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

Heidmar Maritime (NASDAQ:HMR) had its target price reduced by analysts at B. Riley Financial from $5.00 to $3.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s price objective would indicate a potential upside of 265.85% from the company’s current price.

Heidmar Maritime Stock Performance

HMR stock traded down $0.04 on Wednesday, reaching $0.82. The company’s stock had a trading volume of 63,491 shares, compared to its average volume of 84,623. The firm has a market cap of $47.89 million and a PE ratio of 82.00. The business has a fifty day simple moving average of $0.94 and a two-hundred day simple moving average of $1.08. Heidmar Maritime has a 12-month low of $0.76 and a 12-month high of $3.78.

Heidmar Maritime (NASDAQ:HMR) last issued its quarterly earnings data on Tuesday, March 24th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.12). The business had revenue of $25.08 million for the quarter, compared to analyst estimates of $16.27 million.

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.