Himalaya Shipping (NYSE:HSHP) Shares Gap Down – Time to Sell?

Shares of Himalaya Shipping Ltd. (NYSE:HSHP) gapped down prior to trading on Monday . The stock had previously closed at $16.12, but opened at $15.56. Himalaya Shipping shares last traded at $15.52, with a volume of 24,109 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings downgraded shares of Himalaya Shipping from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Wall Street Zen downgraded Himalaya Shipping from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Himalaya Shipping Price Performance

The company has a debt-to-equity ratio of 4.23, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day simple moving average is $14.67 and its 200-day simple moving average is $13.35. The stock has a market capitalization of $711.65 million, a P/E ratio of 24.19 and a beta of 1.43.

Himalaya Shipping (NYSE:HSHP) last issued its earnings results on Friday, May 15th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Himalaya Shipping had a net margin of 20.28% and a return on equity of 18.28%. The firm had revenue of $34.90 million during the quarter, compared to the consensus estimate of $33.30 million.

Himalaya Shipping Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, July 20th will be paid a $0.22 dividend. The ex-dividend date is Friday, July 17th.

Hedge Funds Weigh In On Himalaya Shipping

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its stake 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. State Street Corp boosted its stake in Himalaya Shipping by 1.4% in the 4th quarter. State Street Corp now owns 403,954 shares of the company’s stock valued at $3,676,000 after purchasing an additional 5,719 shares during the period. Bank of America Corp DE boosted its stake in Himalaya Shipping by 230.4% in the 1st quarter. Bank of America Corp DE now owns 399,028 shares of the company’s stock valued at $5,307,000 after purchasing an additional 278,273 shares during the period. Geode Capital Management LLC grew its holdings in Himalaya Shipping by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 356,350 shares of the company’s stock valued at $2,056,000 after buying an additional 11,828 shares in the last quarter. Finally, Globeflex Capital L P grew its holdings in Himalaya Shipping by 2,033.2% in the 1st quarter. Globeflex Capital L P now owns 318,651 shares of the company’s stock valued at $4,238,000 after buying an additional 303,713 shares in the last quarter. 22.33% of the stock is owned by institutional investors.

About Himalaya Shipping

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.