Himalaya Shipping (NYSE:HSHP) Sees Unusually-High Trading Volume – Time to Buy?
by Amy Steele · The Cerbat GemShares of Himalaya Shipping Ltd. (NYSE:HSHP – Get Free Report) saw an uptick in trading volume on Wednesday . 381,272 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 355,109 shares.The stock last traded at $13.32 and had previously closed at $13.70.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Himalaya Shipping in a research report on Thursday, January 22nd. Wall Street Zen raised Himalaya Shipping from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.
Check Out Our Latest Stock Report on Himalaya Shipping
Himalaya Shipping Price Performance
The company has a debt-to-equity ratio of 4.12, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a fifty day simple moving average of $13.50 and a two-hundred day simple moving average of $10.50. The firm has a market cap of $623.71 million, a PE ratio of 35.19 and a beta of 1.65.
Himalaya Shipping (NYSE:HSHP – Get Free Report) 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). Himalaya Shipping had a return on equity of 11.02% and a net margin of 13.44%.The firm had revenue of $42.10 million for the quarter, compared to analysts’ expectations of $41.80 million.
Himalaya Shipping Announces Dividend
The business also recently declared a dividend, which will be paid on Monday, April 27th. Stockholders of record on Monday, April 20th will be issued a $0.06 dividend. The ex-dividend date is Friday, April 17th.
Insider Activity at Himalaya Shipping
In related news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of Himalaya Shipping stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $13.40, for a total value of $4,020,000.00. Following the completion of the sale, the director directly owned 280,000 shares in the company, valued at $3,752,000. This trade represents a 51.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Hedge Funds Weigh In On Himalaya Shipping
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Himalaya Shipping during the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets lifted its stake in Himalaya Shipping by 80.3% during the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock worth $47,000 after purchasing an additional 2,519 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Himalaya Shipping by 326.7% during the second 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 in the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in Himalaya Shipping in the 3rd quarter valued at $86,000. Finally, Ballentine Partners LLC purchased a new stake in Himalaya Shipping during the 4th quarter valued at approximately $101,000. 22.33% of the stock is 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.