Himalaya Shipping (NYSE:HSHP) Shares Up 6.4% – Time to Buy?

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

Analyst Ratings Changes

Several analysts have recently commented on HSHP shares. Wall Street Zen downgraded shares of Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Weiss Ratings upgraded shares of Himalaya Shipping from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Himalaya Shipping Stock Performance

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

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

Himalaya Shipping Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HSHP. Globeflex Capital L P purchased a new stake in Himalaya Shipping in the 2nd quarter worth about $4,257,000. Bank of America Corp DE lifted its holdings in Himalaya Shipping by 230.4% during the first 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. The Manufacturers Life Insurance Company bought a new position in Himalaya Shipping during the first quarter worth about $171,000. Public Employees Retirement System of Ohio bought a new position in Himalaya Shipping during the first quarter worth about $379,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Himalaya Shipping by 292.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company’s stock worth $13,344,000 after purchasing an additional 750,944 shares in the last quarter. Institutional investors own 22.33% of the company’s stock.

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.