Himalaya Shipping (NYSE:HSHP) Shares Gap Up – What’s Next?

Himalaya Shipping Ltd. (NYSE:HSHP) gapped up prior to trading on Thursday . The stock had previously closed at $13.40, but opened at $14.13. Himalaya Shipping shares last traded at $14.3850, with a volume of 23,658 shares traded.

Wall Street Analyst Weigh In

HSHP has been the topic of a number of recent analyst reports. Wall Street Zen cut Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Himalaya Shipping in a report on Tuesday, June 9th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Himalaya Shipping currently has an average rating of “Hold”.

Himalaya Shipping Trading Up 6.3%

The firm has a market capitalization of $664.76 million, a P/E ratio of 22.62 and a beta of 1.43. The business’s 50 day moving average is $14.55 and its two-hundred day moving average is $12.61. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 4.23.

Himalaya Shipping (NYSE:HSHP) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Himalaya Shipping had a net margin of 20.28% and a return on equity of 18.28%. The company had revenue of $34.90 million during the quarter, compared to the consensus estimate of $33.30 million.

Himalaya Shipping Increases Dividend

The company also recently declared a dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 22nd were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, June 19th. This is an increase from Himalaya Shipping’s previous dividend of $0.15.

Insider Transactions at Himalaya Shipping

In other news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of Himalaya Shipping stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $13.40, for a total transaction of $4,020,000.00. Following the transaction, the director directly owned 280,000 shares in the company, valued at approximately $3,752,000. This trade represents a 51.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Himalaya Shipping

Several institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted 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 valued at $13,344,000 after buying an additional 750,944 shares in the last quarter. Globeflex Capital L P raised its position in Himalaya Shipping by 2,033.2% in the first quarter. Globeflex Capital L P now owns 318,651 shares of the company’s stock worth $4,238,000 after acquiring an additional 303,713 shares in the last quarter. Bank of America Corp DE lifted its holdings in Himalaya Shipping by 230.4% in the 1st quarter. Bank of America Corp DE now owns 399,028 shares of the company’s stock valued at $5,307,000 after acquiring an additional 278,273 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Himalaya Shipping by 322.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 259,959 shares of the company’s stock valued at $2,366,000 after acquiring an additional 198,362 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Himalaya Shipping by 162.3% during the 4th quarter. Barclays PLC now owns 260,780 shares of the company’s stock valued at $2,373,000 after purchasing an additional 161,378 shares in the last quarter. Institutional investors and hedge funds own 22.33% of the company’s stock.

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.