Himalaya Shipping (NYSE:HSHP) Trading 2.7% Higher – Here’s Why

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

Analyst Ratings Changes

Several analysts have issued reports on HSHP shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Himalaya Shipping in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Himalaya Shipping from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Himalaya Shipping Trading Up 2.7%

The business has a 50 day moving average of $9.40 and a two-hundred day moving average of $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 business also recently disclosed a dividend, which was paid on Tuesday, January 27th. Shareholders of record on Tuesday, January 20th were issued a $0.13 dividend. This is an increase from Himalaya Shipping’s previous dividend of $0.10. The ex-dividend date was Monday, January 19th.

Institutional Trading of Himalaya Shipping

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ballentine Partners LLC acquired a new position in Himalaya Shipping in the 4th quarter valued at about $101,000. JPMorgan Chase & Co. boosted its holdings in shares of Himalaya Shipping by 445.4% during the third quarter. JPMorgan Chase & Co. now owns 89,011 shares of the company’s stock worth $733,000 after acquiring an additional 72,692 shares during the period. Sherbrooke Park Advisers LLC acquired a new position in shares of Himalaya Shipping in the third quarter valued at approximately $86,000. Millennium Management LLC increased its stake in shares of Himalaya Shipping by 29.6% during the third quarter. Millennium Management LLC now owns 19,204 shares of the company’s stock worth $158,000 after purchasing an additional 4,382 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Himalaya Shipping by 9.8% during the third quarter. Bank of America Corp DE now owns 26,900 shares of the company’s stock worth $221,000 after purchasing an additional 2,394 shares during the period. 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.