Himalaya Shipping (NYSE:HSHP) Stock Falls 7.2% – Here’s What Happened

Himalaya Shipping Ltd. (NYSE:HSHP) shares fell 7.2% during mid-day trading on Wednesday. The stock traded as low as $17.12 and last traded at $16.5860. Approximately 134,263 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 360,358 shares. The stock had previously closed at $17.88.

Analysts Set New Price Targets

HSHP has been the subject of a number of research analyst reports. Weiss Ratings raised Himalaya Shipping from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 21st. Clarkson Capital upgraded Himalaya Shipping from a “neutral” rating to a “buy” rating in a research note on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Himalaya Shipping Stock Performance

The stock has a market cap of $772.24 million, a PE ratio of 14.64 and a beta of 1.36. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a fifty day moving average price of $17.26 and a 200 day moving average price of $15.50.

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

Himalaya Shipping Increases Dividend

The business also recently announced a dividend, which will be paid on Tuesday, October 27th. Investors of record on Monday, October 19th will be issued a $0.28 dividend. This is a boost from Himalaya Shipping’s previous dividend of $0.25. The ex-dividend date is Friday, October 16th.

Institutional Trading of Himalaya Shipping

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Himalaya Shipping by 213.8% during the third quarter. GAMMA Investing LLC now owns 1,751 shares of the company’s stock worth $30,000 after purchasing an additional 1,193 shares in the last quarter. Tidal Investments LLC acquired a new stake in Himalaya Shipping during the 2nd quarter worth $141,000. The Manufacturers Life Insurance Company acquired a new position in Himalaya Shipping in the first quarter valued at $171,000. Engineers Gate Manager LP raised its holdings in shares of Himalaya Shipping by 28.0% in the second quarter. Engineers Gate Manager LP now owns 15,352 shares of the company’s stock valued at $205,000 after buying an additional 3,362 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Himalaya Shipping in the 2nd quarter valued at about $262,000. 22.33% of the stock is currently owned by institutional investors and hedge funds.

About Himalaya Shipping

Himalaya Shipping Ltd. is a Bermuda-based dry bulk shipping company focused on owning and operating large-capacity Newcastlemax vessels. The company transports major dry bulk commodities, including iron ore and coal, for customers in the global commodities and steel industries.

Himalaya Shipping was established in 2021 and has developed a fleet of Newcastlemax vessels designed to serve long-haul dry bulk routes. Its ships are equipped with dual-fuel engines capable of using liquefied natural gas, supporting improved fuel efficiency and lower emissions compared with conventional vessel designs.

The company’s vessels operate internationally, serving key trade routes connecting major mining, energy and steel-producing regions.