Himalaya Shipping (NYSE:HSHP) Reaches New 12-Month High – Here’s What Happened

Himalaya Shipping Ltd. (NYSE:HSHP) reached a new 52-week high on Wednesday . The stock traded as high as $16.44 and last traded at $16.3570, with a volume of 17382 shares trading hands. The stock had previously closed at $16.15.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HSHP shares. Wall Street Zen upgraded shares of Himalaya Shipping from a “hold” rating to a “buy” rating in a research note 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 research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Himalaya Shipping has an average rating of “Hold”.

Himalaya Shipping Trading Up 1.3%

The company has a debt-to-equity ratio of 4.12, a current ratio of 1.08 and a quick ratio of 1.08. The company’s 50 day moving average is $13.84 and its two-hundred day moving average is $11.17. The firm has a market cap of $754.38 million, a P/E ratio of 42.56 and a beta of 1.38.

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

Himalaya Shipping Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.15 per share. This is a positive change from Himalaya Shipping’s previous dividend of $0.06. The ex-dividend date is Monday, May 18th. Himalaya Shipping’s dividend payout ratio is 13.16%.

Insider Buying and Selling

In other Himalaya Shipping news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director owned 280,000 shares in the company, valued at $3,752,000. This trade represents a 51.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HSHP. Arrowstreet Capital Limited Partnership lifted its stake 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 purchasing an additional 750,944 shares during the period. Globeflex Capital L P lifted its stake in Himalaya Shipping by 2,033.2% during the first quarter. Globeflex Capital L P now owns 318,651 shares of the company’s stock worth $4,238,000 after purchasing an additional 303,713 shares during the period. Goldman Sachs Group Inc. lifted 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 worth $2,366,000 after purchasing an additional 198,362 shares during the period. Barclays PLC lifted its stake in Himalaya Shipping by 162.3% during the fourth quarter. Barclays PLC now owns 260,780 shares of the company’s stock worth $2,373,000 after purchasing an additional 161,378 shares during the period. Finally, Marex Group plc bought a new position in Himalaya Shipping during the fourth quarter worth about $1,227,000. Institutional investors own 22.33% of the company’s stock.

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.