Himalaya Shipping (NYSE:HSHP) Trading 6.4% Higher – Time to Buy?

Shares of Himalaya Shipping Ltd. (NYSE:HSHP) traded up 6.4% during trading on Thursday . The company traded as high as $15.84 and last traded at $15.88. Approximately 96,649 shares changed hands during trading, a decline of 71% from the average session volume of 333,971 shares. The stock had previously closed at $14.92.

Wall Street Analysts Forecast Growth

HSHP has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Weiss Ratings upgraded Himalaya Shipping from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Himalaya Shipping Price Performance

The stock has a market capitalization of $733.34 million, a PE ratio of 24.95 and a beta of 1.37. The business’s 50-day moving average price is $14.84 and its 200 day moving average price is $13.92. The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.95 and a current ratio of 0.95.

Himalaya Shipping (NYSE:HSHP) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $0.52 earnings per share (EPS) for the quarter. The company had revenue of $55.30 million for the quarter. Himalaya Shipping had a return on equity of 18.28% and a net margin of 20.28%.

Himalaya Shipping Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, August 27th. Shareholders of record on Friday, August 21st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 20th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HSHP. AQR Capital Management LLC increased its stake in Himalaya Shipping by 10.2% in the fourth quarter. AQR Capital Management LLC now owns 15,169 shares of the company’s stock valued at $138,000 after acquiring an additional 1,402 shares during the last quarter. Bank of America Corp DE lifted its stake in Himalaya Shipping by 9.8% during the third quarter. Bank of America Corp DE now owns 26,900 shares of the company’s stock worth $221,000 after purchasing an additional 2,394 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Himalaya Shipping by 80.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock worth $47,000 after purchasing an additional 2,519 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Himalaya Shipping by 17.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,932 shares of the company’s stock worth $164,000 after purchasing an additional 2,622 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Himalaya Shipping by 2.9% during the 4th quarter. Russell Investments Group Ltd. now owns 93,190 shares of the company’s stock valued at $848,000 after purchasing an additional 2,661 shares during the last quarter. 22.33% of the stock is currently owned by institutional investors.

Himalaya Shipping Company Profile

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.