Zacks Research Downgrades Heidmar Maritime (NASDAQ:HMR) to Strong Sell

Heidmar Maritime (NASDAQ:HMR) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks reports.

Other analysts have also recently issued research reports about the company. Maxim Group set a $2.25 price objective on Heidmar Maritime in a research report on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heidmar Maritime in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $2.62.

Heidmar Maritime Stock Performance

HMR stock opened at $1.35 on Tuesday. The stock has a market cap of $79.64 million, a P/E ratio of 67.53 and a beta of -0.35. The firm has a 50 day simple moving average of $1.22 and a 200 day simple moving average of $1.09. Heidmar Maritime has a 52 week low of $0.73 and a 52 week high of $1.71.

Heidmar Maritime (NASDAQ:HMR) last released its earnings results on Tuesday, September 1st. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Heidmar Maritime had a return on equity of 23.07% and a net margin of 2.47%.The company had revenue of $29.00 million during the quarter. Sell-side analysts predict that Heidmar Maritime will post 0.2 EPS for the current year.

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.