Short Interest in Himalaya Shipping Ltd. (NYSE:HSHP) Increases By 45.9%

Himalaya Shipping Ltd. (NYSE:HSHP) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 577,082 shares, a growth of 45.9% from the February 12th total of 395,483 shares. Based on an average daily trading volume, of 449,012 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 449,012 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Himalaya Shipping by 10.2% during the fourth quarter. AQR Capital Management LLC now owns 15,169 shares of the company’s stock worth $138,000 after buying an additional 1,402 shares in the last quarter. Bank of America Corp DE lifted its stake in Himalaya Shipping by 9.8% in the 3rd quarter. Bank of America Corp DE now owns 26,900 shares of the company’s stock valued at $221,000 after acquiring an additional 2,394 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Himalaya Shipping by 80.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock valued at $47,000 after acquiring an additional 2,519 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Himalaya Shipping by 17.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,932 shares of the company’s stock worth $164,000 after acquiring an additional 2,622 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Himalaya Shipping by 2.9% during the 4th quarter. Russell Investments Group Ltd. now owns 93,190 shares of the company’s stock worth $848,000 after acquiring an additional 2,661 shares during the last quarter. 22.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Himalaya Shipping in a research note on Thursday, January 22nd. Wall Street Zen raised Himalaya Shipping from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Himalaya Shipping Trading Down 2.6%

Shares of HSHP stock opened at $12.50 on Monday. Himalaya Shipping has a 12-month low of $4.29 and a 12-month high of $14.95. The company has a debt-to-equity ratio of 4.12, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a fifty day moving average of $11.44 and a 200-day moving average of $9.49.

Himalaya Shipping (NYSE:HSHP) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $43.70 million during the quarter, compared to the consensus estimate of $41.80 million. Himalaya Shipping had a net margin of 13.44% and a return on equity of 11.02%.

Himalaya Shipping Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 17th will be issued a $0.06 dividend. The ex-dividend date is Monday, March 16th.

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.