Short Interest in Himalaya Shipping Ltd. (NYSE:HSHP) Expands By 55.1%

Himalaya Shipping Ltd. (NYSE:HSHP) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 895,033 shares, an increase of 55.1% from the February 26th total of 577,082 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 408,602 shares, the short-interest ratio is currently 2.2 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HSHP shares. Wall Street Zen raised Himalaya Shipping from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Himalaya Shipping in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Himalaya Shipping Trading Up 0.2%

Shares of NYSE:HSHP opened at $12.54 on Monday. The company has a market capitalization of $584.99 million, a PE ratio of 33.00 and a beta of 1.60. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 4.12. Himalaya Shipping has a 12-month low of $4.29 and a 12-month high of $14.95. The business’s fifty day simple moving average is $12.18 and its 200-day simple moving average is $9.84.

Himalaya Shipping (NYSE:HSHP) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.29 earnings per share 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 analysts’ expectations of $41.80 million.

Himalaya Shipping Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Himalaya Shipping during the 3rd quarter valued at $33,000. BNP Paribas Financial Markets boosted its holdings in Himalaya Shipping by 80.3% in the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock worth $47,000 after acquiring an additional 2,519 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Himalaya Shipping by 326.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,024 shares of the company’s stock worth $52,000 after acquiring an additional 6,909 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in shares of Himalaya Shipping during the third quarter worth about $86,000. Finally, Ballentine Partners LLC acquired a new position in shares of Himalaya Shipping during the fourth quarter valued at about $101,000. 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.