Heidmar Maritime (NASDAQ:HMR) Stock Price Up 2.2% – Time to Buy?

Heidmar Maritime Holdings Corp. (NASDAQ:HMR)’s share price was up 2.2% during mid-day trading on Tuesday . The company traded as high as $1.52 and last traded at $1.39. 89,674 shares changed hands during trading, an increase of 67% from the average session volume of 53,804 shares. The stock had previously closed at $1.36.

Wall Street Analyst Weigh In

HMR has been the subject of a number of research analyst reports. Zacks Research raised shares of Heidmar Maritime from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Maxim Group set a $2.25 price objective on shares of Heidmar Maritime in a research note on Thursday, May 28th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Heidmar Maritime in a report on Thursday, August 13th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.62.

Heidmar Maritime Trading Up 2.2%

The stock has a 50-day simple moving average of $1.20 and a 200 day simple moving average of $1.05. The stock has a market capitalization of $82.00 million, a price-to-earnings ratio of -5.56 and a beta of -0.46.

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.