Himalaya Shipping (NYSE:HSHP) Sets New 12-Month High – Here’s What Happened

Himalaya Shipping Ltd. (NYSE:HSHP)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $17.09 and last traded at $17.03, with a volume of 141906 shares trading hands. The stock had previously closed at $16.74.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HSHP. Weiss Ratings raised shares of Himalaya Shipping from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Wall Street Zen lowered shares of Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Finally, Clarkson Capital upgraded Himalaya Shipping from a “neutral” rating to a “buy” rating in a research report on Thursday, August 20th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Himalaya Shipping Price Performance

The stock has a market cap of $831.35 million, a PE ratio of 15.70 and a beta of 1.37. The business’s 50-day simple moving average is $15.41 and its 200-day simple moving average is $14.54. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 4.00.

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

Himalaya Shipping Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Thursday, August 27th. Shareholders of record on Friday, August 21st were issued a $0.22 dividend. The ex-dividend date was Thursday, August 20th.

Hedge Funds Weigh In On Himalaya Shipping

A number of hedge funds and other institutional investors have recently made changes to their positions in HSHP. BNP Paribas Financial Markets boosted its holdings in Himalaya Shipping by 80.3% in the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock valued at $47,000 after acquiring an additional 2,519 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Himalaya Shipping by 326.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock worth $52,000 after purchasing an additional 6,909 shares during the period. California State Teachers Retirement System boosted its stake in shares of Himalaya Shipping by 246.1% during the 2nd quarter. California State Teachers Retirement System now owns 5,237 shares of the company’s stock valued at $70,000 after purchasing an additional 3,724 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Himalaya Shipping during the 3rd quarter valued at about $86,000. Finally, Ballentine Partners LLC purchased a new position in shares of Himalaya Shipping during the fourth quarter valued at about $101,000. 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.