Himalaya Shipping (NYSE:HSHP) Raised to “Buy” at Wall Street Zen

Himalaya Shipping (NYSE:HSHP) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Himalaya Shipping in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Himalaya Shipping Stock Down 2.6%

Himalaya Shipping stock opened at $12.50 on Friday. Himalaya Shipping has a one year low of $4.29 and a one year high of $14.95. The business’s fifty day moving average is $11.44 and its 200 day moving average is $9.49. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 4.12.

Himalaya Shipping (NYSE:HSHP) last posted its earnings results on Tuesday, February 10th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $43.70 million for the quarter, compared to the consensus estimate of $41.80 million. Himalaya Shipping had a net margin of 13.44% and a return on equity of 11.02%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ bought a new position in Himalaya Shipping in the 3rd quarter worth approximately $33,000. BNP Paribas Financial Markets raised its position in shares of Himalaya Shipping by 80.3% during the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock valued at $47,000 after buying an additional 2,519 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Himalaya Shipping by 326.7% during 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. Sherbrooke Park Advisers LLC purchased a new position in shares of Himalaya Shipping in the third quarter worth $86,000. Finally, Ballentine Partners LLC purchased a new position in shares of Himalaya Shipping in the fourth quarter worth $101,000. 22.33% of the stock is owned by hedge funds and other institutional investors.

About Himalaya Shipping

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.