Clarkson Capital Upgrades Himalaya Shipping (NYSE:HSHP) to "Buy"

Key Points

• Clarkson Capital upgraded Himalaya Shipping from “neutral” to “buy,” while the broader analyst consensus remains “Moderate Buy,” with one Buy and one Hold rating.
• HSHP shares rose 1.3% to $16.04, near their 12-month high of $16.69. The company recently reported quarterly EPS of $0.52, revenue of $55.3 million, a 31.44% net margin and a 32.83% return on equity.
• Institutional investors have increased exposure to the stock, including substantial position increases by Arrowstreet Capital and Bank of America; institutions collectively own 22.33% of Himalaya Shipping.

Himalaya Shipping (NYSE:HSHP - Get Free Report) was upgraded by equities researchers at Clarkson Capital from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Thursday, MarketBeat reports.

A number of other research analysts also recently commented on HSHP. Wall Street Zen downgraded shares of Himalaya Shipping from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 24th. Weiss Ratings raised shares of Himalaya Shipping from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Himalaya Shipping Trading Up 1.3%

NYSE HSHP opened at $16.04 on Thursday. The company has a market cap of $748.36 million, a PE ratio of 14.20 and a beta of 1.37. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 4.00. Himalaya Shipping has a 12 month low of $7.32 and a 12 month high of $16.69. The stock has a 50 day moving average of $14.98 and a 200-day moving average of $14.14.

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

Hedge Funds Weigh In On Himalaya Shipping

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its position in shares of Himalaya Shipping by 292.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company's stock valued at $13,344,000 after purchasing an additional 750,944 shares during the period. State Street Corp grew its stake in Himalaya Shipping by 1.4% in the 4th quarter. State Street Corp now owns 403,954 shares of the company's stock valued at $3,676,000 after buying an additional 5,719 shares during the last quarter. Bank of America Corp DE raised its holdings in Himalaya Shipping by 230.4% in the 1st quarter. Bank of America Corp DE now owns 399,028 shares of the company's stock valued at $5,307,000 after acquiring an additional 278,273 shares during the period. Geode Capital Management LLC lifted its position in Himalaya Shipping by 3.4% during the second quarter. Geode Capital Management LLC now owns 356,350 shares of the company's stock worth $2,056,000 after acquiring an additional 11,828 shares during the last quarter. Finally, Globeflex Capital L P bought a new stake in shares of Himalaya Shipping during the second quarter worth approximately $4,257,000. 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.

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