Himalaya Shipping Ltd. (NYSE:HSHP) Short Interest Update

Himalaya Shipping Ltd. (NYSE:HSHP) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 339,400 shares, an increase of 15.6% from the October 15th total of 293,700 shares. Based on an average daily volume of 105,400 shares, the days-to-cover ratio is presently 3.2 days. Currently, 1.3% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in Himalaya Shipping by 17.2% in the 2nd 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. State Street Corp grew its holdings in shares of Himalaya Shipping by 1.7% in the third quarter. State Street Corp now owns 366,210 shares of the company’s stock worth $3,171,000 after acquiring an additional 6,090 shares during the period. Valeo Financial Advisors LLC purchased a new stake in Himalaya Shipping during the third quarter valued at $87,000. Bank of New York Mellon Corp lifted its holdings in Himalaya Shipping by 17.3% in the second quarter. Bank of New York Mellon Corp now owns 84,091 shares of the company’s stock valued at $770,000 after acquiring an additional 12,400 shares during the period. Finally, GSA Capital Partners LLP boosted its position in Himalaya Shipping by 15.4% in the third quarter. GSA Capital Partners LLP now owns 100,405 shares of the company’s stock worth $870,000 after purchasing an additional 13,405 shares during the last quarter. Institutional investors own 22.33% of the company’s stock.

Analysts Set New Price Targets

Separately, DNB Markets downgraded shares of Himalaya Shipping from a “hold” rating to a “sell” rating in a research report on Monday, August 19th.

Himalaya Shipping Trading Up 0.7 %

Shares of HSHP stock traded up $0.05 during mid-day trading on Friday, hitting $7.29. The company’s stock had a trading volume of 129,346 shares, compared to its average volume of 103,048. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 4.34. Himalaya Shipping has a 52-week low of $4.95 and a 52-week high of $9.76. The business has a 50-day moving average price of $7.57 and a 200 day moving average price of $8.08.

Himalaya Shipping (NYSE:HSHP) last issued its earnings results on Friday, August 16th. The company reported $0.16 earnings per share for the quarter. The business had revenue of $31.20 million during the quarter. Himalaya Shipping had a return on equity of 15.72% and a net margin of 21.93%.

Himalaya Shipping Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a $0.04 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.58%.

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.