Himalaya Shipping (NYSE:HSHP) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Himalaya Shipping (NYSE:HSHP) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Himalaya Shipping in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Himalaya Shipping Stock Down 3.1%

Shares of HSHP opened at $15.69 on Friday. Himalaya Shipping has a 12 month low of $5.46 and a 12 month high of $16.69. The firm’s 50 day moving average is $13.86 and its 200-day moving average is $11.21. The stock has a market capitalization of $731.71 million, a PE ratio of 41.28 and a beta of 1.38. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 4.12.

Himalaya Shipping Increases Dividend

The business 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.

Insiders Place Their Bets

In other Himalaya Shipping news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were 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. This trade represents a 51.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link.

Institutional Trading of Himalaya Shipping

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company acquired a new stake in Himalaya Shipping in the first quarter valued at approximately $171,000. Public Employees Retirement System of Ohio acquired a new position in shares of Himalaya Shipping during the first quarter worth $379,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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. Sei Investments Co. lifted its holdings in shares of Himalaya Shipping by 425.7% during the first quarter. Sei Investments Co. now owns 122,313 shares of the company’s stock worth $1,627,000 after purchasing an additional 99,046 shares during the period. Finally, Walleye Capital LLC lifted its holdings in shares of Himalaya Shipping by 30.8% during the first quarter. Walleye Capital LLC now owns 67,723 shares of the company’s stock worth $901,000 after purchasing an additional 15,958 shares during the period. 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.