Himalaya Shipping (NYSE:HSHP) Shares Up 6.4% - Time to Buy?

Key Points

• Himalaya Shipping shares rose 6.4% to $15.88 in midday trading, though volume was 71% below the stock’s average daily volume.
• Analyst sentiment remains cautious: Wall Street Zen downgraded the stock from “strong buy” to “buy,” while MarketBeat reports an overall average rating of “Hold.”
• The company reported $0.52 in quarterly EPS on $55.3 million in revenue and announced a $0.22-per-share dividend payable August 27 to shareholders of record August 21.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) shares traded up 6.4% during mid-day trading on Thursday . The company traded as high as $15.84 and last traded at $15.88. 96,649 shares were traded during trading, a decline of 71% from the average daily volume of 333,971 shares. The stock had previously closed at $14.92.

Analyst Ratings Changes

Several analysts have recently commented on HSHP shares. Wall Street Zen downgraded shares of Himalaya Shipping from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 24th. Weiss Ratings upgraded shares of Himalaya Shipping from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold".

Himalaya Shipping Stock Performance

The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $733.34 million, a PE ratio of 24.95 and a beta of 1.37. The company's 50 day moving average price is $14.84 and its 200-day moving average price is $13.92.

Himalaya Shipping (NYSE:HSHP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $0.52 EPS for the quarter. Himalaya Shipping had a return on equity of 18.28% and a net margin of 20.28%.The business had revenue of $55.30 million for the quarter.

Himalaya Shipping Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, August 27th. Shareholders of record on Friday, August 21st will be paid a $0.22 dividend. The ex-dividend date is Thursday, August 20th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HSHP. Globeflex Capital L P purchased a new stake in Himalaya Shipping in the 2nd quarter worth about $4,257,000. Bank of America Corp DE lifted its holdings in Himalaya Shipping by 230.4% during the first quarter. Bank of America Corp DE now owns 399,028 shares of the company's stock valued at $5,307,000 after purchasing an additional 278,273 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Himalaya Shipping during the first quarter worth about $171,000. Public Employees Retirement System of Ohio bought a new position in Himalaya Shipping during the first quarter worth about $379,000. Finally, Arrowstreet Capital Limited Partnership increased its stake 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.