Himalaya Shipping (NYSE:HSHP) Raised to “Hold” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Himalaya Shipping (NYSE:HSHP – Free Report) from a sell rating to a hold rating in a research report released on Monday morning.

Himalaya Shipping Stock Performance

HSHP stock opened at $7.61 on Monday. The business has a 50 day moving average price of $6.85 and a 200 day moving average price of $5.95. Himalaya Shipping has a fifty-two week low of $4.29 and a fifty-two week high of $8.74. The company has a debt-to-equity ratio of 4.25, a quick ratio of 0.95 and a current ratio of 0.95.

Himalaya Shipping (NYSE:HSHP – Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. Himalaya Shipping had a net margin of 5.32% and a return on equity of 4.03%. The company had revenue of $21.90 million for the quarter, compared to analyst estimates of $31.18 million.

Himalaya Shipping Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be given a $0.04 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Monday, August 18th.

Institutional Investors Weigh In On Himalaya Shipping

A number of institutional investors and hedge funds have recently bought and sold shares of HSHP. Rhumbline Advisers boosted its stake in Himalaya Shipping by 5.6% in the first quarter. Rhumbline Advisers now owns 39,513 shares of the company’s stock valued at $217,000 after acquiring an additional 2,110 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Himalaya Shipping by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 62,184 shares of the company’s stock valued at $341,000 after purchasing an additional 2,170 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Himalaya Shipping by 1.4% in the 4th quarter. Hsbc Holdings PLC now owns 186,367 shares of the company’s stock valued at $901,000 after purchasing an additional 2,483 shares during the period. Geode Capital Management LLC grew its stake in Himalaya Shipping by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 346,530 shares of the company’s stock worth $1,684,000 after buying an additional 2,910 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Himalaya Shipping by 49.6% during the 4th quarter. Wells Fargo & Company MN now owns 14,124 shares of the company’s stock worth $69,000 after buying an additional 4,680 shares during the last quarter. 22.33% of the stock is owned by hedge funds and other institutional investors.

About Himalaya Shipping

(Get Free Report)

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.

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