Himalaya Shipping Ltd. (NYSE:HSHP) Short Interest Update

Key Points

• Short interest jumped 55.1% to 895,033 shares as of March 13, equal to about 1.9% of shares sold short and a days-to-cover ratio of 2.2.
• Institutional investors now own 22.33% of the company, with BNP Paribas and Tower Research markedly increasing stakes and firms like SEB, Sherbrooke Park, and Ballentine initiating new positions.
• Himalaya has a market cap of about $585M and a P/E of 33; it reported quarterly EPS of $0.29 (missed by $0.01), paid a $0.06 dividend on March 25, and carries a consensus analyst rating of Hold (one upgrade to Buy from Wall Street Zen).

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 895,033 shares, a growth of 55.1% from the February 26th total of 577,082 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average trading volume of 408,602 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in Himalaya Shipping in the 3rd quarter worth about $33,000. BNP Paribas Financial Markets lifted its holdings in Himalaya Shipping by 80.3% during the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company's stock valued at $47,000 after purchasing an additional 2,519 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Himalaya Shipping by 326.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company's stock valued at $52,000 after purchasing an additional 6,909 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in Himalaya Shipping during the third quarter worth about $86,000. Finally, Ballentine Partners LLC bought a new position in Himalaya Shipping during the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 22.33% of the company's stock.

Himalaya Shipping Stock Down 1.9%

Himalaya Shipping stock opened at $12.54 on Friday. Himalaya Shipping has a twelve month low of $4.29 and a twelve month high of $14.95. The firm has a 50 day moving average price of $12.18 and a 200-day moving average price of $9.81. The company has a market capitalization of $584.99 million, a P/E ratio of 33.00 and a beta of 1.62. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 4.12.

Himalaya Shipping (NYSE:HSHP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). Himalaya Shipping had a return on equity of 11.02% and a net margin of 13.44%.The company had revenue of $42.10 million during the quarter, compared to the consensus estimate of $41.80 million.

Himalaya Shipping Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 17th were paid a $0.06 dividend. The ex-dividend date was Monday, March 16th.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Himalaya Shipping in a research report on Thursday, January 22nd. Wall Street Zen raised Himalaya Shipping from a "hold" rating to a "buy" rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

About Himalaya Shipping

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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