Himalaya Shipping (NYSE:HSHP) Rating Increased to Buy at Clarkson Capital

Himalaya Shipping (NYSE:HSHP) was upgraded by research analysts at Clarkson Capital from a “neutral” rating to a “buy” rating in a report issued on Thursday, Marketbeat Ratings reports.

HSHP has been the subject of a number of other reports. Wall Street Zen downgraded shares of Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Weiss Ratings raised Himalaya Shipping from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Himalaya Shipping Trading Up 1.3%

HSHP stock opened at $16.04 on Thursday. Himalaya Shipping has a 52 week low of $7.32 and a 52 week high of $16.69. The company has a market capitalization of $748.36 million, a PE ratio of 14.20 and a beta of 1.37. The company’s 50-day simple moving average is $14.98 and its 200 day simple moving average is $14.14. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.19 and a current ratio of 1.19.

Himalaya Shipping (NYSE:HSHP) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $0.52 earnings per share (EPS) for the quarter. Himalaya Shipping had a net margin of 31.44% and a return on equity of 32.83%. The firm had revenue of $55.30 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its stake in Himalaya Shipping by 425.7% during the first quarter. Sei Investments Co. now owns 122,313 shares of the company’s stock worth $1,627,000 after purchasing an additional 99,046 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Himalaya Shipping by 292.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company’s stock valued at $13,344,000 after purchasing an additional 750,944 shares during the last quarter. Globeflex Capital L P raised its holdings in shares of Himalaya Shipping by 2,033.2% during the 1st quarter. Globeflex Capital L P now owns 318,651 shares of the company’s stock worth $4,238,000 after buying an additional 303,713 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Himalaya Shipping during the 4th quarter worth $486,000. Finally, Ballentine Partners LLC bought a new stake in shares of Himalaya Shipping during the 4th quarter worth $101,000. 22.33% of the stock is owned by 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.