Short Interest in Himalaya Shipping Ltd. (NYSE:HSHP) Expands By 55.1%

Himalaya Shipping Ltd. (NYSE:HSHP) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 895,033 shares, an increase of 55.1% from the February 26th total of 577,082 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average daily volume of 408,602 shares, the short-interest ratio is presently 2.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HSHP. Hosking Partners LLP increased its holdings in shares of Himalaya Shipping by 27.5% in the third quarter. Hosking Partners LLP now owns 1,917,876 shares of the company’s stock worth $15,784,000 after purchasing an additional 414,216 shares during the period. Goldman Sachs Group Inc. boosted its stake in Himalaya Shipping by 322.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 259,959 shares of the company’s stock valued at $2,366,000 after buying an additional 198,362 shares during the period. Barclays PLC boosted its stake in Himalaya Shipping by 162.3% during the fourth quarter. Barclays PLC now owns 260,780 shares of the company’s stock valued at $2,373,000 after buying an additional 161,378 shares during the period. Marex Group plc purchased a new position in Himalaya Shipping during the fourth quarter worth about $1,227,000. Finally, Creative Planning grew its position in Himalaya Shipping by 706.4% during the third quarter. Creative Planning now owns 151,326 shares of the company’s stock worth $1,245,000 after buying an additional 132,561 shares in the last quarter. 22.33% of the stock is currently owned by hedge funds and other institutional investors.

Himalaya Shipping Stock Down 1.9%

HSHP stock opened at $12.54 on Friday. The stock has a 50-day simple moving average of $12.18 and a two-hundred day simple moving average of $9.81. Himalaya Shipping has a twelve month low of $4.29 and a twelve month high of $14.95. The firm has a market capitalization of $584.99 million, a PE ratio of 33.00 and a beta of 1.62. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 4.12.

Himalaya Shipping (NYSE:HSHP) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $42.10 million during the quarter, compared to the consensus estimate of $41.80 million. Himalaya Shipping had a net margin of 13.44% and a return on equity of 11.02%.

Himalaya Shipping Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 17th were paid a $0.06 dividend. The ex-dividend date was Monday, March 16th.

Wall Street Analyst Weigh In

HSHP has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Himalaya Shipping in a report on Thursday, January 22nd. Wall Street Zen upgraded Himalaya Shipping from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.