Himalaya Shipping (NYSE:HSHP) Shares Gap Down – Time to Sell?
by Teresa Graham · The Cerbat GemHimalaya Shipping Ltd. (NYSE:HSHP – Get Free Report)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $15.12, but opened at $14.23. Himalaya Shipping shares last traded at $14.0970, with a volume of 292,373 shares traded.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on HSHP shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Himalaya Shipping in a research note on Thursday, January 22nd. Wall Street Zen raised Himalaya Shipping from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.
View Our Latest Report on Himalaya Shipping
Himalaya Shipping Price Performance
The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 4.12. The company has a market cap of $665.46 million, a PE ratio of 37.53 and a beta of 1.38. The stock has a 50-day simple moving average of $13.97 and a 200 day simple moving average of $11.43.
Himalaya Shipping Increases Dividend
The firm also recently announced a dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 19th will be given a $0.15 dividend. This is an increase from Himalaya Shipping’s previous dividend of $0.06. The ex-dividend date is Monday, May 18th.
Insider Buying and Selling
In other Himalaya Shipping news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of Himalaya Shipping stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $13.40, for a total value 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 document filed with the Securities & Exchange Commission, which is available through the SEC website.
Institutional Investors Weigh In On Himalaya Shipping
Institutional investors and hedge funds have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Himalaya Shipping in the 3rd quarter valued at $33,000. BNP Paribas Financial Markets raised its holdings in shares of Himalaya Shipping by 80.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock valued at $47,000 after buying an additional 2,519 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Himalaya Shipping by 326.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock valued at $52,000 after buying an additional 6,909 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in shares of Himalaya Shipping in the 3rd quarter valued at $86,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Himalaya Shipping in the 4th quarter valued at $101,000. Hedge funds and other 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.