Himalaya Shipping (NYSE:HSHP) Stock Jumps 5.2% – What’s Next?

Himalaya Shipping Ltd. (NYSE:HSHP) shot up 5.2% on Thursday. The stock traded as high as $18.60 and last traded at $18.5390. 79,072 shares were traded during trading, a decline of 78% from the average daily volume of 356,200 shares. The stock had previously closed at $17.62.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HSHP. Weiss Ratings upgraded Himalaya Shipping from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 21st. Clarkson Capital upgraded Himalaya Shipping from a “neutral” rating to a “buy” rating in a research report on Thursday, August 20th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Himalaya Shipping has a consensus rating of “Buy”.

Himalaya Shipping Stock Up 5.4%

The company has a market capitalization of $866.06 million, a P/E ratio of 16.45 and a beta of 1.36. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.19 and a current ratio of 1.19. The firm’s fifty day moving average is $17.07 and its 200-day moving average is $15.35.

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

Himalaya Shipping Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, October 27th. Shareholders of record on Monday, October 19th will be issued a $0.28 dividend. The ex-dividend date is Friday, October 16th. This is an increase from Himalaya Shipping’s previous dividend of $0.25.

Hedge Funds Weigh In On Himalaya Shipping

A number of institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its position in Himalaya Shipping by 292.2% in 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 period. Bank of America Corp DE raised 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 worth $5,307,000 after buying an additional 278,273 shares during the last quarter. Globeflex Capital L P lifted its stake in shares of Himalaya Shipping by 2,033.2% in the first quarter. Globeflex Capital L P now owns 318,651 shares of the company’s stock valued at $4,238,000 after buying an additional 303,713 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Himalaya Shipping by 425.7% during the first quarter. Sei Investments Co. now owns 122,313 shares of the company’s stock valued at $1,627,000 after buying an additional 99,046 shares during the last quarter. Finally, Walleye Capital LLC grew its holdings in shares of Himalaya Shipping by 30.8% during the first quarter. Walleye Capital LLC now owns 67,723 shares of the company’s stock valued at $901,000 after buying an additional 15,958 shares during the last quarter. 22.33% of the stock is owned by institutional investors and hedge funds.

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. is a Bermuda-based dry bulk shipping company focused on owning and operating large-capacity Newcastlemax vessels. The company transports major dry bulk commodities, including iron ore and coal, for customers in the global commodities and steel industries.

Himalaya Shipping was established in 2021 and has developed a fleet of Newcastlemax vessels designed to serve long-haul dry bulk routes. Its ships are equipped with dual-fuel engines capable of using liquefied natural gas, supporting improved fuel efficiency and lower emissions compared with conventional vessel designs.

The company’s vessels operate internationally, serving key trade routes connecting major mining, energy and steel-producing regions.