Himalaya Shipping (NYSE:HSHP) Shares Up 2.7% – Still a Buy?

Himalaya Shipping Ltd. (NYSE:HSHP) shares rose 2.7% on Monday . The company traded as high as $10.82 and last traded at $10.76. Approximately 217,026 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 424,691 shares. The stock had previously closed at $10.48.

Wall Street Analyst Weigh In

Several research firms recently commented on HSHP. Wall Street Zen cut shares of Himalaya Shipping from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Himalaya Shipping in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Himalaya Shipping has a consensus rating of “Hold”.

Himalaya Shipping Stock Performance

The stock’s 50-day moving average price is $9.40 and its 200 day moving average price is $8.46. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 4.19.

Himalaya Shipping Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, January 27th. Shareholders of record on Tuesday, January 20th were given a dividend of $0.13 per share. This is a boost from Himalaya Shipping’s previous dividend of $0.10. The ex-dividend date of this dividend was Monday, January 19th.

Hedge Funds Weigh In On Himalaya Shipping

Several hedge funds have recently modified their holdings of HSHP. Skandinaviska Enskilda Banken AB publ bought a new stake in Himalaya Shipping during the third quarter worth about $33,000. BNP Paribas Financial Markets grew its stake in Himalaya Shipping by 80.3% in the third 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 in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Himalaya Shipping by 326.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock worth $52,000 after purchasing an additional 6,909 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Himalaya Shipping during the 2nd quarter worth approximately $69,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of Himalaya Shipping during the 3rd quarter worth approximately $86,000. Institutional investors own 22.33% of the company’s stock.

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.