Himalaya Shipping (NYSE:HSHP) Sets New 1-Year High – Should You Buy?

Himalaya Shipping Ltd. (NYSE:HSHP)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $15.19 and last traded at $15.1950, with a volume of 227521 shares. The stock had previously closed at $14.17.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HSHP. Wall Street Zen raised shares of Himalaya Shipping from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “hold (c)” rating on shares of Himalaya Shipping in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Himalaya Shipping Trading Up 9.0%

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 business’s fifty day moving average is $13.60 and its 200 day moving average is $10.74. The firm has a market capitalization of $720.32 million, a price-to-earnings ratio of 40.78 and a beta of 1.38.

Himalaya Shipping (NYSE:HSHP) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Himalaya Shipping had a return on equity of 11.02% and a net margin of 13.44%.The company had revenue of $42.10 million for the quarter, compared to analyst estimates of $41.80 million.

Himalaya Shipping Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 17th.

Insider Activity at Himalaya Shipping

In other news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $3,752,000. The trade was a 51.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Trading of Himalaya Shipping

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Himalaya Shipping by 77.5% during the fourth quarter. Invesco Ltd. now owns 22,800 shares of the company’s stock worth $207,000 after acquiring an additional 9,952 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Himalaya Shipping in the fourth quarter valued at about $273,000. Susquehanna Portfolio Strategies LLC acquired a new position in shares of Himalaya Shipping in the fourth quarter valued at about $397,000. Quadrature Capital Ltd grew its stake in shares of Himalaya Shipping by 9.7% in the fourth quarter. Quadrature Capital Ltd now owns 31,449 shares of the company’s stock valued at $286,000 after acquiring an additional 2,777 shares in the last quarter. Finally, Numerai GP LLC acquired a new position in shares of Himalaya Shipping in the fourth quarter valued at about $461,000. 22.33% of the stock is owned by institutional investors.

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.