Himalaya Shipping (NYSE:HSHP) Hits New 1-Year High - Time to Buy?

Key Points

• Himalaya Shipping shares reached a new 52-week high, trading as high as $19.13 and gaining 4.9%; the company has a market capitalization of approximately $900 million.
• Analyst sentiment is positive, with the stock carrying a consensus “Buy” rating after Clarkson Capital and Weiss Ratings upgraded their views.
• The company reported quarterly EPS of $0.52 on $55.3 million in revenue and raised its dividend to $0.25 per share, up from $0.22 previously.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $19.13 and last traded at $19.2770, with a volume of 79861 shares traded. The stock had previously closed at $18.39.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Clarkson Capital upgraded Himalaya Shipping from a "neutral" rating to a "buy" rating in a report on Thursday, August 20th. Wall Street Zen downgraded shares of Himalaya Shipping from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 24th. Finally, Weiss Ratings raised shares of Himalaya Shipping from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy".

Himalaya Shipping Trading Up 4.9%

The firm has a market cap of $899.74 million, a P/E ratio of 17.05 and a beta of 1.37. The company's 50 day moving average is $16.24 and its two-hundred day moving average is $14.88. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.19 and a quick ratio of 1.19.

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

Himalaya Shipping Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 18th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 17th. This is a positive change from Himalaya Shipping's previous dividend of $0.22.

Institutional Trading of Himalaya Shipping

Several institutional investors have recently made changes to their positions in HSHP. Engineers Gate Manager LP increased its stake in Himalaya Shipping by 28.0% in the second quarter. Engineers Gate Manager LP now owns 15,352 shares of the company's stock valued at $205,000 after acquiring an additional 3,362 shares during the last quarter. Tidal Investments LLC bought a new stake in Himalaya Shipping during the second quarter worth $141,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Himalaya Shipping in the 1st quarter valued at $171,000. Globeflex Capital L P acquired a new stake in shares of Himalaya Shipping in the 4th quarter valued at $136,000. Finally, Walleye Capital LLC boosted its holdings in shares of Himalaya Shipping by 30.8% in the 1st quarter. Walleye Capital LLC now owns 67,723 shares of the company's stock valued at $901,000 after purchasing an additional 15,958 shares in the last quarter. 22.33% of the stock is currently owned by institutional investors and hedge funds.

About Himalaya Shipping

Himalaya Shipping Ltd. is a Bermuda-based dry bulk shipping company listed on the New York Stock Exchange under the symbol HSHP. The company owns and operates large Newcastlemax vessels designed to transport major dry bulk commodities, including iron ore, coal and grain, for customers involved in international trade.

Himalaya Shipping's fleet is centered on modern, energy-efficient vessels capable of using liquefied natural gas as fuel. The company provides ocean transportation services through time-charter and other commercial arrangements, serving global shipping routes that connect major commodity-producing regions with markets and industrial centers.

Himalaya Shipping was established in 2021 and has developed its fleet through newbuilding programs at Chinese shipyards.

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