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

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

Heidmar Maritime Stock Performance

Shares of HMR stock opened at $0.83 on Wednesday. The stock has a fifty day moving average price of $0.93 and a 200 day moving average price of $1.07. The stock has a market cap 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.

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

Heidmar Maritime Company Profile

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.