Himalaya Shipping (NYSE:HSHP) Cut to “Sell” at DNB Markets

DNB Markets downgraded shares of Himalaya Shipping (NYSE:HSHP) from a hold rating to a sell rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports.

Himalaya Shipping Trading Up 1.5 %

HSHP stock opened at $7.39 on Monday. Himalaya Shipping has a one year low of $4.30 and a one 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 company has a fifty day moving average of $8.24 and a 200-day moving average of $8.17.

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

Himalaya Shipping Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be issued a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.74%. The ex-dividend date is Monday, August 19th. This is an increase from Himalaya Shipping’s previous monthly dividend of $0.05.

Hedge Funds Weigh In On Himalaya Shipping

Large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new position in shares of Himalaya Shipping in the 1st quarter valued at about $771,000. Kim LLC purchased a new position in shares of Himalaya Shipping in the 4th quarter valued at about $14,023,000. Russell Investments Group Ltd. purchased a new position in shares of Himalaya Shipping in the 4th quarter valued at about $214,000. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Himalaya Shipping in the 4th quarter valued at about $70,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Himalaya Shipping by 166.0% in the 2nd quarter. Hsbc Holdings PLC now owns 95,767 shares of the company’s stock valued at $845,000 after purchasing an additional 59,765 shares in the last quarter. Hedge funds and other 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.