Himalaya Shipping (NYSE:HSHP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Himalaya Shipping (NYSE:HSHP) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Himalaya Shipping Stock Up 0.3%

Shares of NYSE:HSHP opened at $7.19 on Friday. Himalaya Shipping has a 52-week low of $4.29 and a 52-week high of $8.74. The firm has a fifty day moving average of $6.58 and a 200 day moving average of $5.73. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 4.21.

Himalaya Shipping (NYSE:HSHP) last announced its earnings results on Thursday, May 22nd. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.02. Himalaya Shipping had a net margin of 9.98% and a return on equity of 7.68%. The company had revenue of $21.90 million during the quarter, compared to analyst estimates of $31.18 million.

Himalaya Shipping Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be given a $0.04 dividend. The ex-dividend date is Monday, August 18th. This represents a c) annualized dividend and a yield of 6.7%.

Institutional Trading of Himalaya Shipping

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Himalaya Shipping by 3.4% during the second 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 during the period. Northern Trust Corp boosted its position in Himalaya Shipping by 6.2% during the fourth quarter. Northern Trust Corp now owns 191,422 shares of the company’s stock valued at $930,000 after buying an additional 11,222 shares during the period. Hsbc Holdings PLC boosted its position in Himalaya Shipping by 1.4% during the fourth quarter. Hsbc Holdings PLC now owns 186,367 shares of the company’s stock valued at $901,000 after buying an additional 2,483 shares during the period. Citadel Advisors LLC boosted its position in Himalaya Shipping by 57.0% during the fourth quarter. Citadel Advisors LLC now owns 130,118 shares of the company’s stock valued at $632,000 after buying an additional 47,231 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Himalaya Shipping by 478.7% during the first quarter. Russell Investments Group Ltd. now owns 123,431 shares of the company’s stock valued at $676,000 after buying an additional 102,103 shares during the period. 22.33% of the stock is currently owned by hedge funds and other 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.