Heidmar Maritime (NASDAQ:HMR) Trading 2.2% Higher – Should You Buy?

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HMR. Maxim Group set a $2.25 price target on Heidmar Maritime in a research note on Thursday, May 28th. Zacks Research upgraded Heidmar Maritime from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heidmar Maritime in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $2.62.

Heidmar Maritime Stock Performance

The company has a market capitalization of $85.54 million, a P/E ratio of -5.80 and a beta of -0.46. The business’s fifty day simple moving average is $1.19 and its 200-day simple moving average is $1.06.

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.