Himalaya Shipping (NYSE:HSHP) Shares Down 5.9% – Time to Sell?

Himalaya Shipping Ltd. (NYSE:HSHP) was down 5.9% during mid-day trading on Thursday . The stock traded as low as $14.53 and last traded at $14.3750. 68,051 shares were traded during trading, a decline of 80% from the average session volume of 338,901 shares. The stock had previously closed at $15.28.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen cut Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Himalaya Shipping in a report on Tuesday, June 9th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Himalaya Shipping Stock Performance

The company has a fifty day moving average of $14.71 and a two-hundred day moving average of $12.87. The firm has a market capitalization of $711.13 million, a price-to-earnings ratio of 24.20 and a beta of 1.43. The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.95 and a current ratio of 0.95.

Himalaya Shipping (NYSE:HSHP) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Himalaya Shipping had a net margin of 20.28% and a return on equity of 18.28%. The firm had revenue of $34.90 million during the quarter, compared to analyst estimates of $33.30 million.

Himalaya Shipping Dividend Announcement

The firm also recently announced a dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, July 20th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, July 17th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in shares of 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 buying an additional 2,519 shares during the period. Tower Research Capital LLC TRC increased its stake in Himalaya Shipping by 326.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock worth $52,000 after acquiring an additional 6,909 shares during the period. Sherbrooke Park Advisers LLC acquired a new position in Himalaya Shipping in the 3rd quarter valued at $86,000. Ballentine Partners LLC acquired a new position in Himalaya Shipping in the 4th quarter valued at $101,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Himalaya Shipping in the 1st quarter valued at $171,000. 22.33% of the stock is owned by institutional investors.

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.