Himalaya Shipping (NYSE:HSHP) Shares Gap Up – Time to Buy?

Himalaya Shipping Ltd. (NYSE:HSHP)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $15.27, but opened at $15.91. Himalaya Shipping shares last traded at $15.4690, with a volume of 102,947 shares.

Wall Street Analysts Forecast Growth

HSHP has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Himalaya Shipping in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Himalaya Shipping from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Himalaya Shipping Trading Up 0.6%

The company has a debt-to-equity ratio of 4.12, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $716.54 million, a P/E ratio of 40.42 and a beta of 1.38. The firm’s fifty day simple moving average is $13.94 and its 200 day simple moving average is $11.38.

Himalaya Shipping Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 19th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 18th. This is an increase from Himalaya Shipping’s previous dividend of $0.06. Himalaya Shipping’s payout ratio is 13.16%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Himalaya Shipping

Several hedge funds have recently bought and sold shares of HSHP. Arrowstreet Capital Limited Partnership grew its holdings in shares of Himalaya Shipping by 292.2% during 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 grew 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 valued at $4,238,000 after purchasing an additional 303,713 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Himalaya Shipping by 230.4% during the 1st quarter. Bank of America Corp DE now owns 399,028 shares of the company’s stock valued at $5,307,000 after purchasing an additional 278,273 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Himalaya Shipping by 322.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 259,959 shares of the company’s stock valued at $2,366,000 after purchasing an additional 198,362 shares during the last quarter. Finally, Barclays PLC grew its holdings 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 during the last quarter. 22.33% of the stock is 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.