Himalaya Shipping (NYSE:HSHP) Hits New 52-Week High – Still a Buy?

Himalaya Shipping Ltd. (NYSE:HSHP)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.19 and last traded at $15.1950, with a volume of 227521 shares. The stock had previously closed at $14.17.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wall Street Zen upgraded Himalaya Shipping from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Himalaya Shipping in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Himalaya Shipping Stock Up 5.4%

The firm’s 50-day simple moving average is $13.68 and its 200 day simple moving average is $10.89. The company has a debt-to-equity ratio of 4.12, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $735.20 million, a P/E ratio of 41.47 and a beta of 1.38.

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). Himalaya Shipping had a net margin of 13.44% and a return on equity of 11.02%. The company had revenue of $42.10 million during the quarter, compared to the consensus estimate of $41.80 million.

Himalaya Shipping Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 19th will be paid a $0.15 dividend. This is a boost from Himalaya Shipping’s previous dividend of $0.06. The ex-dividend date of this dividend is Monday, May 18th.

Insider Buying and Selling at Himalaya Shipping

In related news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of Himalaya Shipping 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 transaction, the director owned 280,000 shares of the company’s stock, valued at $3,752,000. This trade represents a 51.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Himalaya Shipping

Several hedge funds have recently bought and sold shares of HSHP. AQR Capital Management LLC grew its holdings in shares of Himalaya Shipping by 10.2% in the 4th quarter. AQR Capital Management LLC now owns 15,169 shares of the company’s stock valued at $138,000 after buying an additional 1,402 shares during the period. Bank of America Corp DE raised its stake in Himalaya Shipping by 9.8% during the 3rd quarter. Bank of America Corp DE now owns 26,900 shares of the company’s stock worth $221,000 after buying an additional 2,394 shares during the period. BNP Paribas Financial Markets raised its stake in Himalaya Shipping by 80.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock worth $47,000 after buying an additional 2,519 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Himalaya Shipping by 17.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,932 shares of the company’s stock worth $164,000 after acquiring an additional 2,622 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Himalaya Shipping by 2.9% in the fourth quarter. Russell Investments Group Ltd. now owns 93,190 shares of the company’s stock valued at $848,000 after acquiring an additional 2,661 shares during the period. 22.33% of the stock is currently owned by institutional investors and hedge funds.

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.