Himalaya Shipping Ltd. (NYSE:HSHP) Short Interest Up 15.6% in October

Himalaya Shipping Ltd. (NYSE:HSHP) was the target of a significant 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 trading volume of 105,400 shares, the days-to-cover ratio is presently 3.2 days. Approximately 1.3% of the shares of the stock are short sold.

Himalaya Shipping Price Performance

HSHP opened at $7.29 on Monday. Himalaya Shipping has a twelve month low of $4.95 and a twelve month high of $9.76. The company has a debt-to-equity ratio of 4.34, a quick ratio of 0.78 and a current ratio of 0.87. The firm’s 50-day moving average price is $7.57 and its 200 day moving average price is $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 for 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 disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.48 dividend on an annualized basis and a yield of 6.58%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Himalaya Shipping

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of Himalaya Shipping by 17.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 84,091 shares of the company’s stock worth $770,000 after acquiring an additional 12,400 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Himalaya Shipping by 17.2% during the 2nd quarter. Rhumbline Advisers now owns 38,407 shares of the company’s stock valued at $352,000 after acquiring an additional 5,623 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Himalaya Shipping by 166.0% in the second 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 during the period. Valeo Financial Advisors LLC acquired a new stake in Himalaya Shipping during the third quarter worth about $87,000. Finally, Creative Planning purchased a new position in Himalaya Shipping during the third quarter worth about $155,000. Institutional investors and hedge funds 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.