Himalaya Shipping (NYSE:HSHP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Himalaya Shipping (NYSE:HSHP) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings restated 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, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Himalaya Shipping Stock Up 3.0%

HSHP opened at $12.85 on Friday. The company has a debt-to-equity ratio of 4.12, a current ratio of 1.08 and a quick ratio of 1.08. Himalaya Shipping has a fifty-two week low of $4.29 and a fifty-two week high of $14.95. The company’s 50 day moving average price is $11.52 and its two-hundred day moving average price is $9.53.

Himalaya Shipping (NYSE:HSHP) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $43.70 million for 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 Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, March 16th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Himalaya Shipping in the 3rd quarter valued at $33,000. BNP Paribas Financial Markets raised its stake in Himalaya Shipping by 80.3% during the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock worth $47,000 after buying an additional 2,519 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Himalaya Shipping by 326.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock valued at $52,000 after buying an additional 6,909 shares during the period. Los Angeles Capital Management LLC acquired a new position in Himalaya Shipping in the second quarter valued at $69,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in Himalaya Shipping during the third quarter valued at $86,000. Institutional investors and hedge funds own 22.33% of the company’s stock.

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.