Himalaya Shipping (NYSE:HSHP) Hits New 1-Year High – Time to Buy?

Himalaya Shipping Ltd. (NYSE:HSHP)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $19.13 and last traded at $19.2770, with a volume of 79861 shares traded. The stock had previously closed at $18.39.

Analyst Ratings Changes

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

Himalaya Shipping Trading Up 4.9%

The business’s 50 day simple moving average is $16.24 and its two-hundred day simple moving average is $14.88. The stock has a market cap of $899.74 million, a P/E ratio of 17.05 and a beta of 1.37. 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 announced its quarterly earnings results on Wednesday, July 1st. The company reported $0.52 EPS for the quarter. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%.The company had revenue of $55.30 million during the quarter.

Himalaya Shipping Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 18th will be paid a dividend of $0.25 per share. This is a boost from Himalaya Shipping’s previous dividend of $0.22. The ex-dividend date of this dividend is Thursday, September 17th.

Hedge Funds Weigh In On Himalaya Shipping

Several institutional investors have recently added to or reduced their stakes in HSHP. Arrowstreet Capital Limited Partnership grew its holdings in Himalaya Shipping by 292.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company’s stock worth $13,344,000 after purchasing an additional 750,944 shares during the period. Bank of America Corp DE raised its holdings in shares of Himalaya Shipping by 230.4% during the first quarter. Bank of America Corp DE now owns 399,028 shares of the company’s stock valued at $5,307,000 after purchasing an additional 278,273 shares during the period. Globeflex Capital L P boosted its position in shares of Himalaya Shipping by 2,033.2% during the 1st quarter. Globeflex Capital L P now owns 318,651 shares of the company’s stock worth $4,238,000 after purchasing an additional 303,713 shares in the last quarter. Sei Investments Co. boosted its position in shares of Himalaya Shipping by 425.7% during the 1st quarter. Sei Investments Co. now owns 122,313 shares of the company’s stock worth $1,627,000 after purchasing an additional 99,046 shares in the last quarter. Finally, Walleye Capital LLC grew its stake in shares of Himalaya Shipping by 30.8% in the 1st 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 period. 22.33% of the stock is owned by institutional investors and hedge funds.

About Himalaya Shipping

Himalaya Shipping Ltd. is a Bermuda-based dry bulk shipping company listed on the New York Stock Exchange under the symbol HSHP. The company owns and operates large Newcastlemax vessels designed to transport major dry bulk commodities, including iron ore, coal and grain, for customers involved in international trade.

Himalaya Shipping’s fleet is centered on modern, energy-efficient vessels capable of using liquefied natural gas as fuel. The company provides ocean transportation services through time-charter and other commercial arrangements, serving global shipping routes that connect major commodity-producing regions with markets and industrial centers.

Himalaya Shipping was established in 2021 and has developed its fleet through newbuilding programs at Chinese shipyards.