Heidmar Maritime (NASDAQ:HMR) Shares Up 8% - Should You Buy?

Key Points

• The stock price of Heidmar Maritime Holdings Corp. rose 8% on Thursday, reaching as high as $1.39 before settling at $1.35.
• Wall Street analysts have a predominantly optimistic outlook, with B. Riley issuing a "buy" rating and a target price of $5.00 for the stock.
• Heidmar's latest quarterly earnings reported $0.01 earnings per share, missing expectations, but the revenue exceeded forecasts at $9.58 million.

Heidmar Maritime Holdings Corp. (NASDAQ:HMR - Get Free Report)'s stock price traded up 8% during mid-day trading on Thursday . The company traded as high as $1.39 and last traded at $1.35. 207,175 shares changed hands during mid-day trading, an increase of 53% from the average session volume of 135,549 shares. The stock had previously closed at $1.25.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HMR shares. Wall Street Zen upgraded Heidmar Maritime to a "hold" rating in a report on Sunday, June 15th. B. Riley initiated coverage on Heidmar Maritime in a research note on Tuesday, July 15th. They issued a "buy" rating and a $5.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $5.00.

Heidmar Maritime Trading Down 1.5%

The business's 50-day moving average price is $1.44.

Heidmar Maritime (NASDAQ:HMR - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $9.58 million for the quarter, compared to analysts' expectations of $5.19 million.

About Heidmar Maritime

Heidmar Maritime Holdings Corp. provides commercial and pool management services to the dry bulk, crude oil, and refined petroleum product tanker markets worldwide. It offers tanker pool and commercial management, dry bulk pool and commercial management, and fuel services. The company also operates a platform to invest in tanker or drybulk vessels offering a range of customized services for the investor, as well as engages in the sale and purchase of second-hand vessels and newbuilds in the tanker and drybulk sectors.