Himalaya Shipping (NYSE:HSHP) Shares Gap Up – What’s Next?

Shares of Himalaya Shipping Ltd. (NYSE:HSHP) gapped up before the market opened on Thursday . The stock had previously closed at $13.40, but opened at $14.13. Himalaya Shipping shares last traded at $14.3850, with a volume of 23,658 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on HSHP. Wall Street Zen cut shares of Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Himalaya Shipping in a report on Tuesday, June 9th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Himalaya Shipping Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 4.23. The firm has a market cap of $664.76 million, a price-to-earnings ratio of 22.62 and a beta of 1.43. The stock has a 50-day moving average of $14.55 and a two-hundred day moving average of $12.61.

Himalaya Shipping (NYSE:HSHP) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The company had revenue of $34.90 million during the quarter, compared to analysts’ expectations of $33.30 million. Himalaya Shipping had a return on equity of 18.28% and a net margin of 20.28%.

Himalaya Shipping Increases Dividend

The company also recently announced a dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 22nd were given a $0.22 dividend. This is an increase from Himalaya Shipping’s previous dividend of $0.15. The ex-dividend date of this dividend was Friday, June 19th.

Insider Activity

In other news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $13.40, for a total transaction of $4,020,000.00. Following the sale, the director owned 280,000 shares in the company, valued at $3,752,000. The trade was a 51.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Himalaya Shipping

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its position in Himalaya Shipping by 292.2% during the 1st 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 in the last quarter. Globeflex Capital L P raised its stake in Himalaya Shipping by 2,033.2% during the 1st quarter. Globeflex Capital L P now owns 318,651 shares of the company’s stock valued at $4,238,000 after purchasing an additional 303,713 shares during the period. Bank of America Corp DE lifted its holdings in shares of 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 purchasing an additional 278,273 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Himalaya Shipping by 322.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 259,959 shares of the company’s stock valued at $2,366,000 after purchasing an additional 198,362 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Himalaya Shipping by 162.3% in the fourth quarter. Barclays PLC now owns 260,780 shares of the company’s stock worth $2,373,000 after buying an additional 161,378 shares during the period. Institutional investors and hedge funds own 22.33% of the company’s stock.

Himalaya Shipping Company Profile

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.