We recently published a list of These 10 Stocks Posted Double-, Triple-Digit Gains Last Week. In this article, we are going to take a look at where Heidmar Maritime Holdings Corp. (NASDAQ:HMR) stands against other stocks that posted double-, triple-digit gains last week.

Micro- and small-cap companies dominated gains on the stock market last week, bucking an overall market pessimism, thanks to a flurry of company developments that bolstered investing appetite, including acquisition and stellar earnings performance.

In this article, we listed the names of last week’s top performers and detailed the reasons behind their gains based on their share prices last Friday, March 14, and their closing prices on March 7, or the Friday prior.

We classify micro-cap companies as those with a market capitalization below $300 million and small-cap firms as those with a market capitalization below $1 billion.

A deep sea tanker vessel laden with liquified natural gas, contrailing a majestic stream of white smoke.

Heidmar Maritime Holdings Corp. (NASDAQ:HMR)

Heidmar Maritime skyrocketed by 128 percent week-on-week as investors snapped up shares in the company following news that it bagged a $108-million contract with Netherlands-based transmission system operator TenneT.

Under the agreement, HMR would provide TenneT with a platform supply vessel and crew for supply tours to the latter’s offshore platforms in the German North Sea for five years.

The contract is set to take effect on April 15, 2025, and end on February 28, 2030. The contract also gave HMR three options for one-year extensions.

HMR is a newly listed company on the US stock exchange which debuted only on February 20. From its $5.95 closing price on its first day as a listed company, HMR’s price as of March 14, however, marked a 42-percent drop.

Overall, HMR ranks 3rd on our list of stocks that posted double-, triple-digit gains last week. While we acknowledge the potential of HMR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as HMR but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.