B. Riley Financial Issues Pessimistic Forecast for Heidmar Maritime (NASDAQ:HMR) Stock Price

Heidmar Maritime (NASDAQ:HMR) had its target price cut by stock analysts at B. Riley Financial from $5.00 to $3.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s target price suggests a potential upside of 268.10% from the stock’s current price.

Heidmar Maritime Stock Down 0.2%

HMR stock opened at $0.82 on Wednesday. The firm has a 50 day moving average of $0.93 and a two-hundred day moving average of $1.07. Heidmar Maritime has a 12 month low of $0.76 and a 12 month high of $3.78. The company has a market capitalization of $47.60 million and a price-to-earnings ratio of -2.09.

Heidmar Maritime (NASDAQ:HMR) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $25.08 million for the quarter, compared to the consensus estimate 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.