Himalaya Shipping (NYSE:HSHP) Sets New 12-Month High – Should You Buy?

Shares of Himalaya Shipping Ltd. (NYSE:HSHP) reached a new 52-week high during trading on Tuesday . The company traded as high as $17.09 and last traded at $17.03, with a volume of 141906 shares traded. The stock had previously closed at $16.74.

Wall Street Analyst Weigh In

Several research firms have commented on HSHP. Wall Street Zen downgraded shares of Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Clarkson Capital raised shares of Himalaya Shipping from a “neutral” rating to a “buy” rating in a report on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of Himalaya Shipping from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Himalaya Shipping has a consensus rating of “Buy”.

Himalaya Shipping Stock Performance

The company has a fifty day moving average of $15.29 and a two-hundred day moving average of $14.46. The firm has a market capitalization of $795.85 million, a price-to-earnings ratio of 15.10 and a beta of 1.37. 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 issued its quarterly earnings data on Wednesday, July 1st. The company reported $0.52 EPS for the quarter. The firm had revenue of $55.30 million for the quarter. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%.

Himalaya Shipping Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, August 27th. Stockholders of record on Friday, August 21st were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 20th.

Hedge Funds Weigh In On Himalaya Shipping

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in 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. Tower Research Capital LLC TRC grew its position in shares of Himalaya Shipping by 326.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock worth $52,000 after purchasing an additional 6,909 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Himalaya Shipping by 246.1% during the 2nd quarter. California State Teachers Retirement System now owns 5,237 shares of the company’s stock worth $70,000 after purchasing an additional 3,724 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of Himalaya Shipping during the third quarter worth approximately $86,000. Finally, Ballentine Partners LLC bought a new position in shares of Himalaya Shipping during the fourth quarter worth approximately $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.