Bank of America Corp DE Boosts Holdings in Himalaya Shipping Ltd. $HSHP

Key Points

• Bank of America increased its Himalaya Shipping stake by 230.4% in the first quarter, reaching 399,028 shares valued at approximately $5.3 million. Institutional ownership overall stands at 22.33%, with several other firms also substantially raising their positions.
• Analyst sentiment is positive, with Clarkson Capital and Weiss Ratings upgrading the stock to “Buy.” MarketBeat reports an average rating of “Buy” from two covering analysts.
• HSHP recently traded at $16.31, near its 12-month high of $17.06, after reporting quarterly EPS of $0.52 and revenue of $55.3 million. The company also paid a quarterly dividend of $0.22 per share.

Bank of America Corp DE raised its stake in shares of Himalaya Shipping Ltd. (NYSE:HSHP - Free Report) by 230.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,028 shares of the company's stock after buying an additional 278,273 shares during the quarter. Bank of America Corp DE owned about 0.86% of Himalaya Shipping worth $5,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its holdings in Himalaya Shipping by 292.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company's stock valued at $13,344,000 after acquiring an additional 750,944 shares during the last quarter. Globeflex Capital L P grew its holdings in Himalaya Shipping by 2,033.2% during the 1st quarter. Globeflex Capital L P now owns 318,651 shares of the company's stock valued at $4,238,000 after buying an additional 303,713 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Himalaya Shipping by 322.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 259,959 shares of the company's stock valued at $2,366,000 after buying an additional 198,362 shares in the last quarter. Barclays PLC increased its stake in Himalaya Shipping by 162.3% in the 4th quarter. Barclays PLC now owns 260,780 shares of the company's stock worth $2,373,000 after acquiring an additional 161,378 shares during the last quarter. Finally, Marex Group plc bought a new stake in Himalaya Shipping in the 4th quarter worth approximately $1,227,000. 22.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HSHP shares. Clarkson Capital upgraded Himalaya Shipping from a "neutral" rating to a "buy" rating in a research report on Thursday, August 20th. Weiss Ratings upgraded shares of Himalaya Shipping from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen downgraded shares of Himalaya Shipping from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 24th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy".

Himalaya Shipping Trading Up 2.6%

HSHP stock opened at $16.31 on Friday. The company has a market capitalization of $760.86 million, a PE ratio of 14.43 and a beta of 1.37. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.19 and a quick ratio of 1.19. Himalaya Shipping Ltd. has a 12 month low of $7.37 and a 12 month high of $17.06. The firm's 50-day moving average is $15.19 and its 200 day moving average is $14.38.

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

Himalaya Shipping Dividend Announcement

The company also recently declared a dividend, which was paid on Thursday, August 27th. Stockholders of record on Friday, August 21st were issued a $0.22 dividend. The ex-dividend date was Thursday, August 20th.

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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