Himalaya Shipping (NYSE:HSHP) Sees Unusually-High Trading Volume – What’s Next?

Himalaya Shipping Ltd. (NYSE:HSHP) saw strong trading volume on Wednesday . 381,272 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 355,109 shares.The stock last traded at $13.32 and had previously closed at $13.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Himalaya Shipping in a research note on Thursday, January 22nd. Wall Street Zen upgraded Himalaya Shipping from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Himalaya Shipping Stock Performance

The company has a market capitalization of $624.41 million, a PE ratio of 35.22 and a beta of 1.65. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 4.12. The business has a 50 day simple moving average of $13.43 and a 200 day simple moving average of $10.46.

Himalaya Shipping (NYSE:HSHP) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Himalaya Shipping had a return on equity of 11.02% and a net margin of 13.44%.The firm had revenue of $42.10 million during the quarter, compared to analysts’ expectations of $41.80 million.

Himalaya Shipping Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, April 27th. Stockholders of record on Monday, April 20th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 17th.

Insider Activity

In other news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $13.40, for a total value of $4,020,000.00. Following the completion of the transaction, the director directly owned 280,000 shares in the company, valued at $3,752,000. This trade represents a 51.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of Himalaya Shipping by 77.5% in the fourth quarter. Invesco Ltd. now owns 22,800 shares of the company’s stock worth $207,000 after purchasing an additional 9,952 shares during the last quarter. XTX Topco Ltd acquired a new stake in Himalaya Shipping during the fourth quarter worth about $273,000. Susquehanna Portfolio Strategies LLC acquired a new stake in Himalaya Shipping during the fourth quarter worth about $397,000. Quadrature Capital Ltd grew its holdings in Himalaya Shipping by 9.7% during the fourth quarter. Quadrature Capital Ltd now owns 31,449 shares of the company’s stock worth $286,000 after acquiring an additional 2,777 shares during the period. Finally, Numerai GP LLC acquired a new stake in Himalaya Shipping during the fourth quarter worth about $461,000. 22.33% of the stock is currently owned by hedge funds and other 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.