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

Himalaya Shipping Ltd. (NYSE:HSHP) gapped down prior to trading on Tuesday . The stock had previously closed at $18.86, but opened at $18.27. Himalaya Shipping shares last traded at $18.2460, with a volume of 82,317 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HSHP shares. Weiss Ratings upgraded shares of Himalaya Shipping from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Clarkson Capital upgraded 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, Based on data from MarketBeat, Himalaya Shipping currently has an average rating of “Buy”.

Himalaya Shipping Stock Down 3.1%

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 4.00. The company has a market capitalization of $852.76 million, a PE ratio of 16.18 and a beta of 1.37. The stock has a 50-day moving average of $16.49 and a 200 day moving average of $14.97.

Himalaya Shipping (NYSE:HSHP) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $0.52 earnings per share 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 for the quarter.

Himalaya Shipping Increases Dividend

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

Hedge Funds Weigh In On Himalaya Shipping

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its holdings in Himalaya Shipping by 292.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,007,952 shares of the company’s stock worth $13,344,000 after buying an additional 750,944 shares during the last quarter. Bank of America Corp DE boosted its stake in Himalaya Shipping by 230.4% in the first quarter. Bank of America Corp DE now owns 399,028 shares of the company’s stock valued at $5,307,000 after acquiring an additional 278,273 shares during the last quarter. Globeflex Capital L P boosted its stake in 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 acquiring an additional 303,713 shares during the last quarter. Sei Investments Co. grew 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 valued at $1,627,000 after acquiring an additional 99,046 shares during the period. Finally, Walleye Capital LLC grew its position in shares of Himalaya Shipping by 30.8% during the 1st quarter. Walleye Capital LLC now owns 67,723 shares of the company’s stock valued at $901,000 after acquiring an additional 15,958 shares during the period. 22.33% of the stock is owned by hedge funds and other institutional investors.

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.