Heidmar Maritime (NASDAQ:HMR) Stock Price Down 8.1% – Here’s Why

Heidmar Maritime Holdings Corp. (NASDAQ:HMR) shares traded down 8.1% during trading on Wednesday . The company traded as low as $1.14 and last traded at $1.14. 104,698 shares were traded during trading, a decline of 75% from the average session volume of 413,895 shares. The stock had previously closed at $1.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HMR shares. Zacks Research upgraded Heidmar Maritime from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Maxim Group set a $2.25 price target on Heidmar Maritime in a research note on Thursday, May 28th. B. Riley Financial cut their price target on shares of Heidmar Maritime from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Finally, Weiss Ratings downgraded shares of Heidmar Maritime from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.62.

Heidmar Maritime Price Performance

The company has a market capitalization of $64.30 million, a P/E ratio of -4.36 and a beta of -0.49. The company has a 50-day moving average of $1.09 and a two-hundred day moving average of $0.99.

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.