Himalaya Shipping (NYSE:HSHP) Hits New 1-Year High – Here’s Why

Shares of Himalaya Shipping Ltd. (NYSE:HSHP) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.30 and last traded at $14.2560, with a volume of 420847 shares traded. The stock had previously closed at $13.84.

Wall Street Analyst Weigh In

HSHP has been the subject of a number of research reports. Wall Street Zen cut Himalaya Shipping from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Himalaya Shipping in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Himalaya Shipping presently has a consensus rating of “Hold”.

Himalaya Shipping Stock Up 3.0%

The stock has a 50-day moving average of $10.15 and a 200 day moving average of $8.90. The company has a market capitalization of $568.39 million, a PE ratio of 37.52 and a beta of 1.85. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 4.12.

Himalaya Shipping (NYSE:HSHP) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $43.70 million during the quarter, compared to the consensus estimate of $41.80 million. Himalaya Shipping had a net margin of 13.44% and a return on equity of 11.02%.

Himalaya Shipping Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, February 19th. Himalaya Shipping’s payout ratio is currently 13.16%.

Institutional Trading of Himalaya Shipping

A number of large investors have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Himalaya Shipping during the 3rd quarter worth $33,000. BNP Paribas Financial Markets lifted its holdings in Himalaya Shipping by 80.3% during the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock valued at $47,000 after purchasing an additional 2,519 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Himalaya Shipping by 326.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock valued at $52,000 after purchasing an additional 6,909 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in Himalaya Shipping during the third quarter worth about $86,000. Finally, Ballentine Partners LLC purchased a new position in shares of Himalaya Shipping in the fourth quarter worth about $101,000. 22.33% of the stock is owned by hedge funds and other 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.