Himalaya Shipping (NYSE:HSHP) Sets New 1-Year High – Here’s Why

Himalaya Shipping Ltd. (NYSE:HSHP)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $18.72 and last traded at $18.7570, with a volume of 526305 shares changing hands. The stock had previously closed at $18.35.

Analyst Upgrades and Downgrades

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

Himalaya Shipping Stock Performance

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 business has a 50 day moving average price of $15.70 and a two-hundred day moving average price of $14.67. The company has a market cap of $864.05 million, a P/E ratio of 16.46 and a beta of 1.37.

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

Himalaya Shipping Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Himalaya Shipping by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 356,350 shares of the company’s stock valued at $2,056,000 after purchasing an additional 11,828 shares during the last quarter. Creative Planning purchased a new position in shares of Himalaya Shipping during the second quarter valued at approximately $108,000. Rhumbline Advisers raised its holdings in shares of Himalaya Shipping by 42.4% during the second quarter. Rhumbline Advisers now owns 56,260 shares of the company’s stock valued at $325,000 after acquiring an additional 16,747 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Himalaya Shipping by 28.2% in the second quarter. Russell Investments Group Ltd. now owns 158,189 shares of the company’s stock worth $913,000 after acquiring an additional 34,758 shares during the period. Finally, Sei Investments Co. bought a new stake in Himalaya Shipping in the second quarter valued at $107,000. 22.33% of the stock is owned by hedge funds and other institutional investors.

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.