Himalaya Shipping (NYSE:HSHP) Shares Down 7.2% – What’s Next?

Himalaya Shipping Ltd. (NYSE:HSHP)’s share price was down 7.2% on Wednesday. The company traded as low as $17.12 and last traded at $16.5860. 134,263 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 360,358 shares. The stock had previously closed at $17.88.

Analysts Set New Price Targets

HSHP has been the subject of a number of analyst reports. Clarkson Capital upgraded shares of Himalaya Shipping from a “neutral” rating to a “buy” rating in a report on Thursday, August 20th. Weiss Ratings upgraded shares of Himalaya Shipping from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Himalaya Shipping currently has an average rating of “Buy”.

Himalaya Shipping Trading Down 2.1%

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 has a 50 day simple moving average of $17.30 and a two-hundred day simple moving average of $15.55. The firm has a market capitalization of $756.85 million, a P/E ratio of 14.36 and a beta of 1.36.

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

Himalaya Shipping Increases Dividend

The company also recently declared a dividend, which will be paid on Tuesday, October 27th. Investors of record on Monday, October 19th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, October 16th. This is an increase from Himalaya Shipping’s previous dividend of $0.25.

Institutional Investors Weigh In On Himalaya Shipping

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Himalaya Shipping by 213.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,751 shares of the company’s stock valued at $30,000 after buying an additional 1,193 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Himalaya Shipping by 65.7% in the third quarter. State of Alaska Department of Revenue now owns 4,126 shares of the company’s stock valued at $71,000 after acquiring an additional 1,636 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Himalaya Shipping in the second quarter valued at approximately $141,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Himalaya Shipping during the first quarter valued at approximately $171,000. Finally, Engineers Gate Manager LP lifted its holdings in Himalaya Shipping by 28.0% during the second quarter. Engineers Gate Manager LP now owns 15,352 shares of the company’s stock worth $205,000 after acquiring an additional 3,362 shares during the period. 22.33% of the stock is owned by institutional investors.

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.