Himalaya Shipping Ltd. (NYSE:HSHP – Get Free Report)’s share price rose 5.2% during mid-day trading on Thursday. The stock traded as high as $18.60 and last traded at $18.5390. Approximately 79,072 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 356,200 shares. The stock had previously closed at $17.62.
Wall Street Analyst Weigh In
Several research firms recently commented on HSHP. Clarkson Capital upgraded shares of Himalaya Shipping from a “neutral” rating to a “buy” rating in a research note on Thursday, August 20th. Weiss Ratings upgraded shares of Himalaya Shipping from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat, Himalaya Shipping presently has an average rating of “Buy”.
Read Our Latest Stock Analysis on HSHP
Himalaya Shipping Price Performance
Himalaya Shipping (NYSE:HSHP – Get Free Report) last released its quarterly earnings data on Wednesday, July 1st. The company reported $0.52 earnings per share (EPS) for the quarter. The business had revenue of $55.30 million for the quarter. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%.
Himalaya Shipping Increases Dividend
The firm also recently declared a dividend, which will be paid on Tuesday, October 27th. Shareholders of record on Monday, October 19th will be issued a $0.28 dividend. This is a boost from Himalaya Shipping’s previous dividend of $0.25. The ex-dividend date of this dividend is Friday, October 16th.
Hedge Funds Weigh In On Himalaya Shipping
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Himalaya Shipping by 213.8% during the third quarter. GAMMA Investing LLC now owns 1,751 shares of the company’s stock worth $30,000 after purchasing an additional 1,193 shares during the period. Engineers Gate Manager LP grew its stake in shares of Himalaya Shipping by 28.0% in the 2nd quarter. Engineers Gate Manager LP now owns 15,352 shares of the company’s stock valued at $205,000 after purchasing an additional 3,362 shares during the period. Tidal Investments LLC bought a new stake in shares of Himalaya Shipping in the 2nd quarter valued at approximately $141,000. The Manufacturers Life Insurance Company acquired a new position in shares of Himalaya Shipping in the 1st quarter worth approximately $171,000. Finally, Walleye Capital LLC raised its holdings in shares of Himalaya Shipping by 30.8% in the 1st quarter. Walleye Capital LLC now owns 67,723 shares of the company’s stock worth $901,000 after buying an additional 15,958 shares in the last quarter. 22.33% of the stock is owned by institutional investors.
Himalaya Shipping Company Profile
Himalaya Shipping Ltd. is a Bermuda-based dry bulk shipping company focused on owning and operating large-capacity Newcastlemax vessels. The company transports major dry bulk commodities, including iron ore and coal, for customers in the global commodities and steel industries.
Himalaya Shipping was established in 2021 and has developed a fleet of Newcastlemax vessels designed to serve long-haul dry bulk routes. Its ships are equipped with dual-fuel engines capable of using liquefied natural gas, supporting improved fuel efficiency and lower emissions compared with conventional vessel designs.
The company’s vessels operate internationally, serving key trade routes connecting major mining, energy and steel-producing regions.
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