Himalaya Shipping Ltd. (NYSE:HSHP) Short Interest Down 12.5% in July

Himalaya Shipping Ltd. (NYSE:HSHP) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 294,700 shares, a decrease of 12.5% from the July 15th total of 336,900 shares. Based on an average daily trading volume, of 101,100 shares, the short-interest ratio is presently 2.9 days. Currently, 1.3% of the company’s stock are sold short.

Himalaya Shipping Trading Down 4.2 %

NYSE HSHP traded down $0.32 on Monday, reaching $7.24. The stock had a trading volume of 110,999 shares, compared to its average volume of 100,228. Himalaya Shipping has a 1-year low of $4.30 and a 1-year high of $9.76. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a fifty day moving average of $8.27 and a two-hundred day moving average of $8.16.

Himalaya Shipping (NYSE:HSHP) last announced its earnings results on Thursday, May 23rd. The company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $23.58 million for the quarter.

Himalaya Shipping Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 9.94%. This is a boost from Himalaya Shipping’s previous monthly dividend of $0.05. The ex-dividend date is Monday, August 19th.

Hedge Funds Weigh In On Himalaya Shipping

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pinnacle Wealth Planning Services Inc. bought a new position in Himalaya Shipping in the 4th quarter valued at approximately $70,000. Russell Investments Group Ltd. bought a new stake in shares of Himalaya Shipping during the 4th quarter valued at about $214,000. Rhumbline Advisers grew its stake in Himalaya Shipping by 17.2% during the second quarter. Rhumbline Advisers now owns 38,407 shares of the company’s stock worth $352,000 after purchasing an additional 5,623 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Himalaya Shipping by 17.3% during the second quarter. Bank of New York Mellon Corp now owns 84,091 shares of the company’s stock valued at $770,000 after purchasing an additional 12,400 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of Himalaya Shipping during the 1st quarter worth about $771,000. Institutional investors own 22.33% of the company’s stock.

Analysts Set New Price Targets

Separately, DNB Markets cut Himalaya Shipping from a “hold” rating to a “sell” rating in a research report on Monday.

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.