Wall Street Zen Downgrades Himalaya Shipping (NYSE:HSHP) to Sell

Himalaya Shipping (NYSE:HSHP) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Himalaya Shipping in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Himalaya Shipping currently has a consensus rating of “Hold”.

Himalaya Shipping Stock Performance

NYSE:HSHP opened at $7.73 on Friday. The stock’s 50-day moving average is $8.13 and its 200-day moving average is $7.02. Himalaya Shipping has a 1-year low of $4.29 and a 1-year high of $8.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 4.19. The stock has a market cap of $308.20 million, a P/E ratio of 70.28 and a beta of 1.94.

Himalaya Shipping (NYSE:HSHP) last announced its earnings results on Thursday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The business had revenue of $37.40 million during the quarter, compared to analyst estimates of $41.45 million. Himalaya Shipping had a return on equity of 3.30% and a net margin of 4.39%.

Institutional Trading of Himalaya Shipping

Large investors have recently modified their holdings of the business. Hosking Partners LLP boosted its position in Himalaya Shipping by 27.5% during the 3rd quarter. Hosking Partners LLP now owns 1,917,876 shares of the company’s stock valued at $15,784,000 after acquiring an additional 414,216 shares in the last quarter. Manatuck Hill Partners LLC purchased a new position in Himalaya Shipping during the second quarter valued at $721,000. Russell Investments Group Ltd. boosted its holdings in shares of Himalaya Shipping by 478.7% during the 1st quarter. Russell Investments Group Ltd. now owns 123,431 shares of the company’s stock valued at $676,000 after buying an additional 102,103 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Himalaya Shipping by 445.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 89,011 shares of the company’s stock valued at $733,000 after buying an additional 72,692 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Himalaya Shipping in the 1st quarter worth about $392,000. 22.33% of the stock is owned by institutional investors.

Himalaya Shipping Company Profile

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.