Himalaya Shipping (NYSE:HSHP) Shares Down 7.2% – Should You Sell?

Shares of Himalaya Shipping Ltd. (NYSE:HSHP) dropped 7.2% during mid-day trading on Wednesday. The company traded as low as $17.12 and last traded at $16.5860. Approximately 134,263 shares traded hands during trading, a decline of 63% from the average daily volume of 360,358 shares. The stock had previously closed at $17.88.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Clarkson Capital raised Himalaya Shipping from a “neutral” rating to a “buy” rating in a research note on Thursday, August 20th. Weiss Ratings upgraded Himalaya Shipping from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has an average rating of “Buy”.

Himalaya Shipping Price Performance

The stock has a 50 day moving average of $17.26 and a two-hundred day moving average of $15.50. The stock has a market cap of $772.24 million, a PE ratio of 14.64 and a beta of 1.36. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.19 and a current ratio of 1.19.

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

Himalaya Shipping Increases Dividend

The company also recently declared a dividend, which will be paid on Tuesday, October 27th. Stockholders of record on Monday, October 19th will be given a $0.28 dividend. This is a positive change from Himalaya Shipping’s previous dividend of $0.25. The ex-dividend date of this dividend is Friday, October 16th.

Institutional Investors Weigh In On Himalaya Shipping

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Himalaya Shipping by 213.8% during the third quarter. GAMMA Investing LLC now owns 1,751 shares of the company’s stock worth $30,000 after buying an additional 1,193 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Himalaya Shipping in the 2nd quarter worth approximately $141,000. Engineers Gate Manager LP grew its position in Himalaya Shipping by 28.0% in the second quarter. Engineers Gate Manager LP now owns 15,352 shares of the company’s stock valued at $205,000 after acquiring an additional 3,362 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Himalaya Shipping during the 2nd quarter worth about $262,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Himalaya Shipping in the second quarter valued at about $384,000. 22.33% of the stock is owned by institutional investors and hedge funds.

Himalaya Shipping Company Profile

Himalaya Shipping Ltd. is a Bermuda-based dry bulk shipping company focused on owning and operating large-capacity Newcastlemax vessels. The company transports major dry bulk commodities, including iron ore and coal, for customers in the global commodities and steel industries.

Himalaya Shipping was established in 2021 and has developed a fleet of Newcastlemax vessels designed to serve long-haul dry bulk routes. Its ships are equipped with dual-fuel engines capable of using liquefied natural gas, supporting improved fuel efficiency and lower emissions compared with conventional vessel designs.

The company’s vessels operate internationally, serving key trade routes connecting major mining, energy and steel-producing regions.