Short Interest in Himalaya Shipping Ltd. (NYSE:HSHP) Drops By 32.1%

Himalaya Shipping Ltd. (NYSE:HSHP) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 421,526 shares, a decline of 32.1% from the December 15th total of 621,249 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average trading volume of 97,807 shares, the days-to-cover ratio is currently 4.3 days. Based on an average trading volume of 97,807 shares, the days-to-cover ratio is currently 4.3 days. Approximately 1.1% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

HSHP has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Himalaya Shipping from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Himalaya Shipping in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Himalaya Shipping has an average rating of “Hold”.

Himalaya Shipping Price Performance

Shares of HSHP traded down $0.02 during mid-day trading on Friday, reaching $9.01. The stock had a trading volume of 189,823 shares, compared to its average volume of 123,437. Himalaya Shipping has a 52-week low of $4.29 and a 52-week high of $10.14. The business’s fifty day moving average is $8.89 and its 200 day moving average is $8.05. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 4.19.

Himalaya Shipping (NYSE:HSHP) last posted its earnings results on Thursday, November 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. Himalaya Shipping had a net margin of 4.39% and a return on equity of 3.30%. The company had revenue of $37.90 million for the quarter, compared to analyst estimates of $41.45 million.

Himalaya Shipping Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, January 27th. Investors of record on Tuesday, January 20th will be issued a $0.13 dividend. This is a boost from Himalaya Shipping’s previous dividend of $0.10. The ex-dividend date is Monday, January 19th.

Institutional Investors Weigh In On Himalaya Shipping

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSHP. Skandinaviska Enskilda Banken AB publ purchased a new stake in Himalaya Shipping in the third quarter valued at $33,000. BNP Paribas Financial Markets grew 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 worth $47,000 after purchasing an additional 2,519 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Himalaya Shipping by 326.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock worth $52,000 after purchasing an additional 6,909 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in shares of Himalaya Shipping during the 3rd quarter worth about $86,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Himalaya Shipping in the 2nd quarter valued at about $69,000. Institutional investors and hedge funds 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.