Himalaya Shipping (NYSE:HSHP) Rating Lowered to Buy at Wall Street Zen

Himalaya Shipping (NYSE:HSHP) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

Himalaya Shipping Stock Performance

Shares of HSHP stock opened at $14.16 on Friday. The stock has a fifty day moving average of $13.99 and a 200 day moving average of $11.45. Himalaya Shipping has a 52 week low of $5.46 and a 52 week high of $16.69. The firm has a market capitalization of $660.61 million, a price-to-earnings ratio of 22.48 and a beta of 1.38. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 4.12.

Himalaya Shipping (NYSE:HSHP) last announced its quarterly earnings results on Thursday, May 21st. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Himalaya Shipping had a return on equity of 11.02% and a net margin of 13.44%.The business had revenue of $34.90 million during the quarter, compared to analysts’ expectations of $33.30 million.

Insider Buying and Selling

In other Himalaya Shipping news, Director Bjorn Andreas Freng Isaksen sold 300,000 shares of the firm’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $13.40, for a total transaction of $4,020,000.00. Following the completion of the transaction, the director owned 280,000 shares of the company’s stock, valued at approximately $3,752,000. This trade represents a 51.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Himalaya Shipping

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in Himalaya Shipping by 10.2% during the fourth quarter. AQR Capital Management LLC now owns 15,169 shares of the company’s stock valued at $138,000 after buying an additional 1,402 shares during the period. Bank of America Corp DE lifted its position in Himalaya Shipping by 9.8% during the third quarter. Bank of America Corp DE now owns 26,900 shares of the company’s stock valued at $221,000 after buying an additional 2,394 shares during the period. BNP Paribas Financial Markets lifted its position in Himalaya Shipping by 80.3% during the third quarter. BNP Paribas Financial Markets now owns 5,656 shares of the company’s stock valued at $47,000 after buying an additional 2,519 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Himalaya Shipping by 17.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,932 shares of the company’s stock valued at $164,000 after buying an additional 2,622 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Himalaya Shipping by 2.9% during the fourth quarter. Russell Investments Group Ltd. now owns 93,190 shares of the company’s stock valued at $848,000 after buying an additional 2,661 shares during the period. Hedge funds and other institutional investors own 22.33% of the company’s stock.

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.