Himalaya Shipping (NYSE:HSHP) Stock Price Up 5.2% - What's Next?

Key Points

• Himalaya Shipping shares climbed 5.2% to about $18.54, although trading volume was 78% below the average daily level.
• Analyst sentiment is positive: Clarkson Capital upgraded the stock to “Buy,” and the consensus rating remains “Buy” from two analysts.
• The company reported quarterly EPS of $0.52 on $55.3 million in revenue and raised its dividend to $0.28 per share, up from $0.25.

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report)'s stock price rose 5.2% during mid-day trading on Thursday. The company traded as high as $18.60 and last traded at $18.5390. 79,072 shares traded hands during trading, a decline of 78% from the average daily volume of 356,200 shares. The stock had previously closed at $17.62.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HSHP shares. Clarkson Capital upgraded Himalaya Shipping from a "neutral" rating to a "buy" rating in a research note on Thursday, August 20th. Weiss Ratings raised Himalaya Shipping from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

Himalaya Shipping Trading Up 5.4%

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 capitalization of $866.06 million, a price-to-earnings ratio of 16.45 and a beta of 1.36. The business's 50-day moving average price is $17.07 and its two-hundred day moving average price is $15.35.

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

Himalaya Shipping Increases Dividend

The business also recently announced a dividend, which will be paid on Tuesday, October 27th. Stockholders of record on Monday, October 19th will be issued a dividend of $0.28 per share. This is an increase from Himalaya Shipping's previous dividend of $0.25. The ex-dividend date of this dividend is Friday, October 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HSHP. Arrowstreet Capital Limited Partnership grew its stake in Himalaya Shipping by 292.2% during the first 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. Bank of America Corp DE lifted its holdings in shares of Himalaya Shipping by 230.4% during the 1st 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 during the period. Globeflex Capital L P bought a new stake in shares of Himalaya Shipping during the 2nd quarter worth approximately $4,257,000. Sei Investments Co. boosted its position in shares of Himalaya Shipping by 425.7% during the 1st quarter. Sei Investments Co. now owns 122,313 shares of the company's stock worth $1,627,000 after acquiring an additional 99,046 shares in the last quarter. Finally, Walleye Capital LLC boosted its position in shares of Himalaya Shipping by 30.8% during the 1st quarter. Walleye Capital LLC now owns 67,723 shares of the company's stock worth $901,000 after acquiring an additional 15,958 shares in the last quarter. Institutional investors and hedge funds own 22.33% of the company's stock.

About Himalaya Shipping

Himalaya Shipping Ltd. is a Bermuda-based dry bulk shipping company focused on owning and operating large-capacity Newcastlemax vessels. The company transports major dry bulk commodities, including iron ore and coal, for customers in the global commodities and steel industries.

Himalaya Shipping was established in 2021 and has developed a fleet of Newcastlemax vessels designed to serve long-haul dry bulk routes. Its ships are equipped with dual-fuel engines capable of using liquefied natural gas, supporting improved fuel efficiency and lower emissions compared with conventional vessel designs.

The company's vessels operate internationally, serving key trade routes connecting major mining, energy and steel-producing regions.

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