Himalaya Shipping (NYSE:HSHP) Sets New 52-Week High on Analyst Upgrade

Key Points

• Himalaya Shipping shares reached a new 52-week high of $16.77, rising 3.9% after Weiss Ratings upgraded the stock from “hold” to “buy.” Analysts now give HSHP an average “Buy” rating.
• Institutional ownership has increased, with hedge funds and other institutions holding 22.33% of the company; several investors recently expanded or initiated positions.
• The company reported quarterly revenue of $55.30 million and EPS of $0.52, while declaring a $0.22 per-share dividend payable August 27 to shareholders of record August 21.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday after Weiss Ratings upgraded the stock from a hold (c+) rating to a buy (b-) rating. The company traded as high as $16.77 and last traded at $16.77, with a volume of 16487 shares traded. The stock had previously closed at $16.12.

Several other equities analysts also recently issued reports on HSHP. Wall Street Zen downgraded shares of Himalaya Shipping from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 24th. Clarkson Capital raised shares of Himalaya Shipping from a "neutral" rating to a "buy" rating in a research note on Thursday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Himalaya Shipping presently has an average rating of "Buy".

Hedge Funds Weigh In On Himalaya Shipping

Several institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew 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 period. Tower Research Capital LLC TRC raised its holdings in Himalaya Shipping by 326.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company's stock worth $52,000 after purchasing an additional 6,909 shares during the period. Sherbrooke Park Advisers LLC acquired a new stake in Himalaya Shipping in the third quarter worth $86,000. Ballentine Partners LLC bought a new position in shares of Himalaya Shipping during the fourth quarter worth $101,000. Finally, Sei Investments Co. acquired a new position in shares of Himalaya Shipping in the 2nd quarter valued at $107,000. 22.33% of the stock is currently owned by institutional investors and hedge funds.

Himalaya Shipping Stock Up 3.9%

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 4.00. The firm's fifty day moving average price is $15.01 and its 200-day moving average price is $14.17. The company has a market cap of $781.39 million, a price-to-earnings ratio of 14.82 and a beta of 1.37.

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

Himalaya Shipping Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, August 27th. Stockholders of record on Friday, August 21st will be issued a $0.22 dividend. The ex-dividend date is 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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