Heidmar Maritime (NASDAQ:HMR) Downgraded to “Strong Sell” Rating by Zacks Research

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

Separately, B. Riley Financial dropped their target price on Heidmar Maritime from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Heidmar Maritime currently has an average rating of “Reduce” and an average price target of $3.00.

Heidmar Maritime Stock Down 0.2%

Shares of NASDAQ:HMR opened at $0.82 on Wednesday. The company’s fifty day moving average is $0.93 and its two-hundred day moving average is $1.07. The company has a market cap of $47.60 million and a P/E ratio of -2.09. 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 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). The business had revenue of $25.08 million for the quarter, compared to analysts’ expectations of $16.27 million. Heidmar Maritime had a negative net margin of 40.20% and a negative return on equity of 19.19%.

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.