Himalaya Shipping (NYSE:HSHP) Shares Gap Down - Should You Sell?

Key Points

• Himalaya Shipping shares fell 5.4%, opening at $15.56 after previously closing at $16.12. The stock’s consensus analyst rating remains “Hold” following recent rating downgrades.
• The company’s latest quarterly results were mixed: revenue of $34.9 million exceeded estimates, but earnings per share of $0.11 missed consensus by $0.02.
• Himalaya Shipping declared a $0.22 per-share dividend, payable July 28 to shareholders of record as of July 20. Institutional investors own 22.33% of the company, with several funds increasing their positions.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $16.12, but opened at $15.56. Himalaya Shipping shares last traded at $15.52, with a volume of 24,109 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HSHP shares. Weiss Ratings downgraded shares of Himalaya Shipping from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 21st. Wall Street Zen cut shares of Himalaya Shipping from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 24th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Himalaya Shipping Trading Down 5.4%

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 4.23. The company has a market cap of $711.65 million, a P/E ratio of 24.19 and a beta of 1.43. The business has a 50-day moving average price of $14.67 and a two-hundred day moving average price of $13.35.

Himalaya Shipping (NYSE:HSHP - Get Free Report) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Himalaya Shipping had a net margin of 20.28% and a return on equity of 18.28%. The business had revenue of $34.90 million during the quarter, compared to the consensus estimate of $33.30 million.

Himalaya Shipping Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, July 20th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, July 17th.

Institutional Investors Weigh In On Himalaya Shipping

A number of hedge funds and other institutional investors have recently bought and sold shares of HSHP. Bank of America Corp DE lifted its stake 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 in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Himalaya Shipping in the first quarter valued at approximately $171,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Himalaya Shipping in the first quarter valued at approximately $379,000. Arrowstreet Capital Limited Partnership lifted 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 worth $13,344,000 after purchasing an additional 750,944 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Himalaya Shipping by 425.7% in the first quarter. Sei Investments Co. now owns 122,313 shares of the company's stock worth $1,627,000 after purchasing an additional 99,046 shares in the last quarter. Institutional investors and hedge funds 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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