Himalaya Shipping (NYSE:HSHP) Shares Gap Down - Time to Sell?

Key Points

• Himalaya Shipping shares fell 3.1%, opening at $18.27 versus the prior close of $18.86, though the stock remains above its 50-day and 200-day moving averages.
• Analyst sentiment is positive: Clarkson Capital and Weiss Ratings upgraded the stock to “Buy,” giving it a consensus “Buy” rating from two analysts.
• The company reported quarterly EPS of $0.52 on $55.3 million in revenue and increased its dividend to $0.25 per share from $0.22, despite a relatively high debt-to-equity ratio of 4.00.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $18.86, but opened at $18.27. Himalaya Shipping shares last traded at $18.2460, with a volume of 82,317 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Clarkson Capital raised Himalaya Shipping from a "neutral" rating to a "buy" rating in a research report on Thursday, August 20th. Weiss Ratings raised Himalaya Shipping from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Himalaya Shipping Stock Down 3.1%

The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.19 and a current ratio of 1.19. The stock's 50 day simple moving average is $16.49 and its 200 day simple moving average is $14.97. The firm has a market cap of $852.76 million, a P/E ratio of 16.18 and a beta of 1.37.

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 for the quarter. The firm had revenue of $55.30 million for the quarter. Himalaya Shipping had a net margin of 31.44% and a return on equity of 32.83%.

Himalaya Shipping Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.25 per share. This is an increase from Himalaya Shipping's previous dividend of $0.22. The ex-dividend date is Thursday, September 17th.

Institutional Trading of Himalaya Shipping

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC bought a new position in shares of Himalaya Shipping in the second quarter valued at approximately $141,000. The Manufacturers Life Insurance Company purchased a new stake in Himalaya Shipping in the 1st quarter valued at $171,000. Globeflex Capital L P purchased a new stake in Himalaya Shipping in the 4th quarter valued at $136,000. Engineers Gate Manager LP lifted its stake in Himalaya Shipping by 28.0% during the 2nd 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 in the last quarter. Finally, Squarepoint Ops LLC bought a new position in Himalaya Shipping during the 2nd quarter valued at $262,000. 22.33% of the stock is owned by institutional investors.

Himalaya Shipping Company Profile

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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