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

Key Points

• Unusually-high trading volume: About 381,272 shares traded Wednesday (roughly 7% above the prior session), with the stock last at $13.32 versus a prior close of $13.70.
• Major insider sale: Director Bjorn Andreas Freng Isaksen sold 300,000 shares at about $13.40 for $4.02 million on April 9, reducing his stake by roughly 51.7%.
• Mixed analyst and cash metrics: The consensus rating is "Hold" despite one upgrade to "Buy," the company has a $624.4M market cap and a P/E of 35.2, and it declared a $0.06 dividend payable April 27 (ex-div April 17).

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 381,272 shares changed hands 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.

Analyst Upgrades and Downgrades

HSHP has been the subject of several research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Himalaya Shipping in a report on Thursday, January 22nd. Wall Street Zen upgraded Himalaya Shipping from a "hold" rating to a "buy" rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold".

Himalaya Shipping Stock Performance

The business has a 50-day moving average of $13.43 and a two-hundred day moving average of $10.46. The company has a market cap of $624.41 million, a P/E ratio of 35.22 and a beta of 1.65. The company has a debt-to-equity ratio of 4.12, a current ratio of 1.08 and a quick ratio of 1.08.

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

Himalaya Shipping Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, April 27th. Investors of record on Monday, April 20th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 17th.

Insiders Place Their Bets

In related 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 transaction of $4,020,000.00. Following the sale, the director owned 280,000 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this link.

Institutional Investors Weigh In On Himalaya Shipping

A number of institutional investors have recently added to or reduced their stakes in HSHP. Geode Capital Management LLC boosted 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 valued at $2,056,000 after purchasing an additional 11,828 shares in the last quarter. Creative Planning bought a new stake in Himalaya Shipping during the second quarter valued at about $108,000. Rhumbline Advisers raised its stake in Himalaya Shipping by 42.4% in the second quarter. Rhumbline Advisers now owns 56,260 shares of the company's stock valued at $325,000 after buying an additional 16,747 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Himalaya Shipping by 28.2% in the second quarter. Russell Investments Group Ltd. now owns 158,189 shares of the company's stock valued at $913,000 after buying an additional 34,758 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in Himalaya Shipping in the second quarter valued at about $107,000. Institutional investors own 22.33% of the company's stock.

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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