Himalaya Shipping (NYSE:HSHP) Cut to Sell at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Himalaya Shipping (NYSE:HSHP – Free Report) from a hold rating to a sell rating in a research report released on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Himalaya Shipping in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Check Out Our Latest Research Report on Himalaya Shipping

Himalaya Shipping Stock Up 2.3%

NYSE:HSHP opened at $7.90 on Friday. Himalaya Shipping has a 1 year low of $4.29 and a 1 year high of $8.95. The business has a 50 day simple moving average of $8.14 and a 200-day simple moving average of $7.04. 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 (NYSE:HSHP – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Himalaya Shipping had a net margin of 4.39% and a return on equity of 3.30%. The firm had revenue of $37.40 million during the quarter, compared to analysts’ expectations of $41.45 million.

Himalaya Shipping Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 17th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 14th.

Institutional Investors Weigh In On Himalaya Shipping

Several hedge funds have recently bought and sold shares of HSHP. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Himalaya Shipping in the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC raised its position in shares of 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 during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Himalaya Shipping during the 2nd quarter worth about $69,000. MetLife Investment Management LLC grew its position in shares of Himalaya Shipping by 42.5% during the 1st quarter. MetLife Investment Management LLC now owns 18,081 shares of the company’s stock valued at $99,000 after acquiring an additional 5,389 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Himalaya Shipping by 2,342.1% in the 1st quarter. Deutsche Bank AG now owns 19,097 shares of the company’s stock valued at $105,000 after purchasing an additional 18,315 shares in the last quarter. Hedge funds and other institutional investors own 22.33% of the company’s stock.

Himalaya Shipping Company Profile

(Get Free Report)

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.

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