Himalaya Shipping (NYSE:HSHP) Shares Gap Up – Should You Buy?

Shares of Himalaya Shipping Ltd. (NYSE:HSHP) gapped up before the market opened on Thursday . The stock had previously closed at $15.27, but opened at $15.91. Himalaya Shipping shares last traded at $15.4690, with a volume of 102,947 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Himalaya Shipping from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Himalaya Shipping Stock Performance

The company has a market cap of $660.61 million, a PE ratio of 37.27 and a beta of 1.38. The company has a debt-to-equity ratio of 4.12, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50 day moving average is $13.99 and its 200-day moving average is $11.45.

Himalaya Shipping (NYSE:HSHP) last announced its quarterly earnings data on Thursday, May 21st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Himalaya Shipping had a net margin of 13.44% and a return on equity of 11.02%. The business had revenue of $34.90 million for the quarter, compared to analysts’ expectations of $33.30 million.

Himalaya Shipping Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 19th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 18th. This is a boost from Himalaya Shipping’s previous dividend of $0.06.

Insider Transactions at Himalaya Shipping

In related news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $13.40, for a total transaction of $4,020,000.00. Following the completion of the sale, the director owned 280,000 shares of the company’s stock, valued at approximately $3,752,000. This represents a 51.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Himalaya Shipping

Several institutional investors and hedge funds have recently bought and sold shares of HSHP. Skandinaviska Enskilda Banken AB publ acquired a new position in Himalaya Shipping in the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets boosted its holdings in 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 purchasing an additional 2,519 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in 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 purchasing an additional 6,909 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in Himalaya Shipping in the 3rd quarter valued at about $86,000. Finally, Ballentine Partners LLC acquired a new position in Himalaya Shipping in the 4th quarter valued at about $101,000. 22.33% of the stock is currently owned by institutional investors and hedge funds.

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.