Himalaya Shipping (NYSE:HSHP) Reaches New 52-Week High - Still a Buy?

Key Points

• Himalaya Shipping reached a new 52-week high, trading at approximately $18.72–$18.76 and gaining 0.9%. Its market capitalization is about $864 million, with the stock trading above its 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive: Weiss Ratings and Clarkson Capital upgraded the stock to “Buy,” while Wall Street Zen maintained a “Buy” rating. MarketBeat data shows an average rating of “Buy” from two analysts.
• The company reported quarterly EPS of $0.52 on $55.3 million in revenue, alongside a 31.44% net margin and 32.83% return on equity. It also paid a quarterly dividend of $0.22, while institutional ownership stands at 22.33%.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $18.72 and last traded at $18.7570, with a volume of 526305 shares changing hands. The stock had previously closed at $18.35.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings upgraded Himalaya Shipping from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 19th. Clarkson Capital upgraded Himalaya Shipping from a "neutral" rating to a "buy" rating in a research report on Thursday, August 20th. Finally, Wall Street Zen lowered Himalaya Shipping from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 24th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy".

Himalaya Shipping Trading Up 0.9%

The firm's 50 day moving average is $15.70 and its 200 day moving average is $14.67. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market cap of $864.05 million, a PE ratio of 16.46 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 EPS for the quarter. The firm had revenue of $55.30 million during the quarter. Himalaya Shipping had a net margin of 31.44% and a return on equity of 32.83%.

Himalaya Shipping Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, August 27th. Shareholders of record on Friday, August 21st were paid a $0.22 dividend. The ex-dividend date was Thursday, August 20th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its stake in Himalaya Shipping by 292.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company's stock worth $13,344,000 after buying an additional 750,944 shares in the last quarter. State Street Corp lifted its holdings in shares of Himalaya Shipping by 1.4% during the 4th quarter. State Street Corp now owns 403,954 shares of the company's stock worth $3,676,000 after acquiring an additional 5,719 shares during the last quarter. Bank of America Corp DE grew its position in Himalaya Shipping by 230.4% in the first quarter. Bank of America Corp DE now owns 399,028 shares of the company's stock worth $5,307,000 after acquiring an additional 278,273 shares in the last quarter. Geode Capital Management LLC increased its stake in Himalaya Shipping by 3.4% in the second quarter. Geode Capital Management LLC now owns 356,350 shares of the company's stock valued at $2,056,000 after acquiring an additional 11,828 shares during the last quarter. Finally, Globeflex Capital L P purchased a new stake in Himalaya Shipping during the second quarter valued at about $4,257,000. 22.33% of the stock is currently owned by institutional investors.

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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