Himalaya Shipping (NYSE:HSHP) Shares Gap Down – Time to Sell?

Himalaya Shipping Ltd. (NYSE:HSHP) shares gapped down prior to trading on Wednesday . The stock had previously closed at $15.51, but opened at $14.93. Himalaya Shipping shares last traded at $14.8460, with a volume of 158,461 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Weiss Ratings upgraded shares of Himalaya Shipping from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Himalaya Shipping presently has an average rating of “Hold”.

Himalaya Shipping Price Performance

The firm has a 50-day moving average of $14.86 and a 200-day moving average of $13.97. The stock has a market cap of $726.53 million, a PE ratio of 13.78 and a beta of 1.37. The company has a debt-to-equity ratio of 4.23, a current ratio of 0.95 and a quick ratio of 0.95.

Himalaya Shipping (NYSE:HSHP) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $0.52 EPS for the quarter. Himalaya Shipping had a return on equity of 33.04% and a net margin of 31.44%.The company had revenue of $55.30 million for the quarter.

Himalaya Shipping Announces Dividend

The business also recently announced a dividend, which will be paid on Thursday, August 27th. Stockholders of record on Friday, August 21st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 20th.

Hedge Funds Weigh In On Himalaya Shipping

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in 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 acquiring an additional 1,402 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Himalaya Shipping by 9.8% during the 3rd quarter. Bank of America Corp DE now owns 26,900 shares of the company’s stock valued at $221,000 after purchasing an additional 2,394 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Himalaya Shipping by 80.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock valued at $47,000 after purchasing an additional 2,519 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Himalaya Shipping by 17.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,932 shares of the company’s stock valued at $164,000 after purchasing an additional 2,622 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Himalaya Shipping by 2.9% during the fourth quarter. Russell Investments Group Ltd. now owns 93,190 shares of the company’s stock valued at $848,000 after purchasing an additional 2,661 shares in the last quarter. Institutional investors 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.