Himalaya Shipping (NYSE:HSHP) Sets New 1-Year High - Here's What Happened

Key Points

• Himalaya Shipping shares reached a new 52-week high of $17.09 and last traded at $17.03, up 1.9% from the prior close, giving the company a market capitalization of approximately $795.9 million.
• Analyst sentiment remains positive: Clarkson Capital and Weiss Ratings upgraded the stock to “Buy,” while MarketBeat reports a consensus “Buy” rating.
• The company reported quarterly revenue of $55.3 million and earnings of $0.52 per share, alongside a $0.22-per-share dividend paid to eligible shareholders on August 27.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $17.09 and last traded at $17.03, with a volume of 141906 shares traded. The stock had previously closed at $16.74.

Analyst Upgrades and Downgrades

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

Himalaya Shipping Trading Up 1.9%

The company has a market cap of $795.85 million, a P/E ratio of 15.10 and a beta of 1.37. 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 business has a 50 day moving average price of $15.29 and a 200-day moving average price of $14.46.

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

Himalaya Shipping Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, August 27th. Stockholders of record on Friday, August 21st were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 20th.

Institutional Investors Weigh In On Himalaya Shipping

A number of institutional investors and hedge funds have recently modified their holdings of the company. 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 worth $47,000 after purchasing an additional 2,519 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Himalaya Shipping by 326.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company's stock valued at $52,000 after buying an additional 6,909 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Himalaya Shipping by 246.1% during the 2nd quarter. California State Teachers Retirement System now owns 5,237 shares of the company's stock worth $70,000 after acquiring an additional 3,724 shares during the period. Sherbrooke Park Advisers LLC bought a new position in shares of Himalaya Shipping during the 3rd quarter worth approximately $86,000. Finally, Ballentine Partners LLC acquired a new position in shares of Himalaya Shipping during the 4th quarter worth approximately $101,000. 22.33% of the stock is 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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