Himalaya Shipping (NYSE:HSHP) Reaches New 12-Month High – Here’s What Happened

Himalaya Shipping Ltd. (NYSE:HSHPGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.72 and last traded at $18.7570, with a volume of 526305 shares traded. The stock had previously closed at $18.35.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Clarkson Capital upgraded shares of Himalaya Shipping from a “neutral” rating to a “buy” rating in a research report on Thursday, August 20th. Weiss Ratings raised shares of Himalaya Shipping from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Finally, Wall Street Zen downgraded Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Read Our Latest Report on HSHP

Himalaya Shipping Trading Down 0.6%

The business has a fifty day moving average price of $15.89 and a 200 day moving average price of $14.74. The firm has a market capitalization of $841.71 million, a price-to-earnings ratio of 15.97 and a beta of 1.37. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.19 and a current ratio of 1.19.

Himalaya Shipping (NYSE:HSHPGet Free Report) last issued its earnings results on Wednesday, July 1st. The company reported $0.52 earnings per share (EPS) for the quarter. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%.The business had revenue of $55.30 million during the quarter.

Himalaya Shipping Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 18th will be given a dividend of $0.25 per share. This is a boost from Himalaya Shipping’s previous dividend of $0.22. The ex-dividend date of this dividend is Thursday, September 17th.

Hedge Funds Weigh In On Himalaya Shipping

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in shares of Himalaya Shipping by 80.3% during the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock worth $47,000 after purchasing an additional 2,519 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Himalaya Shipping by 326.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock valued at $52,000 after purchasing an additional 6,909 shares during the period. California State Teachers Retirement System grew its holdings in Himalaya Shipping by 246.1% in the 2nd quarter. California State Teachers Retirement System now owns 5,237 shares of the company’s stock worth $70,000 after buying an additional 3,724 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of Himalaya Shipping in the third quarter worth $86,000. Finally, Ballentine Partners LLC bought a new position in Himalaya Shipping in the 4th quarter valued at about $101,000. 22.33% of the stock is owned by hedge funds and other institutional investors.

About Himalaya Shipping

(Get Free Report)

Himalaya Shipping Ltd. provides dry bulk shipping services worldwide. The company operates a fleet of vessels. It serves major commodity trading, commodity and energy transition, and multi-modal transport companies. Himalaya Shipping Ltd. was incorporated in 2021 and is based in Hamilton, Bermuda.

Further Reading

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