Himalaya Shipping (NYSE:HSHP) Sets New 52-Week High on Analyst Upgrade

Himalaya Shipping Ltd. (NYSE:HSHP) hit a new 52-week high during trading on Friday after Weiss Ratings upgraded the stock from a hold (c+) rating to a buy (b-) rating. The stock traded as high as $16.77 and last traded at $16.77, with a volume of 16487 shares. The stock had previously closed at $16.12.

HSHP has been the subject of a number of other research reports. Wall Street Zen cut shares of Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Clarkson Capital upgraded Himalaya Shipping from a “neutral” rating to a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Institutional Investors Weigh In On Himalaya Shipping

Several institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its stake in 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 acquiring an additional 750,944 shares in the last quarter. Globeflex Capital L P purchased a new stake in shares of Himalaya Shipping during the 2nd quarter valued at $4,257,000. Bank of America Corp DE increased its stake in shares of Himalaya Shipping by 230.4% during the 1st quarter. Bank of America Corp DE now owns 399,028 shares of the company’s stock worth $5,307,000 after purchasing an additional 278,273 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Himalaya Shipping by 322.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 259,959 shares of the company’s stock valued at $2,366,000 after acquiring an additional 198,362 shares during the period. Finally, Barclays PLC raised its holdings in Himalaya Shipping by 162.3% during the 4th quarter. Barclays PLC now owns 260,780 shares of the company’s stock valued at $2,373,000 after acquiring an additional 161,378 shares during the period. Institutional investors own 22.33% of the company’s stock.

Himalaya Shipping Stock Up 3.9%

The stock has a fifty day moving average price of $15.01 and a 200 day moving average price of $14.17. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $781.39 million, a P/E ratio of 14.82 and a beta of 1.37.

Himalaya Shipping (NYSE:HSHP) last released its quarterly earnings data on Wednesday, July 1st. The company reported $0.52 earnings per share (EPS) for the quarter. Himalaya Shipping had a return on equity of 32.83% and a net margin of 31.44%.The company had revenue of $55.30 million for the quarter.

Himalaya Shipping Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, August 27th. Stockholders of record on Friday, August 21st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 20th.

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.