Himalaya Shipping Ltd. (NYSE:HSHP) Sees Significant Decrease in Short Interest

Himalaya Shipping Ltd. (NYSE:HSHP) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 367,400 shares, a decline of 36.6% from the February 13th total of 579,300 shares. Based on an average trading volume of 163,800 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.8% of the shares of the stock are short sold.

Himalaya Shipping Price Performance

Shares of HSHP traded up $0.04 during mid-day trading on Friday, hitting $5.75. 106,280 shares of the stock were exchanged, compared to its average volume of 122,463. The company has a debt-to-equity ratio of 4.34, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $229.07 million, a PE ratio of 11.97 and a beta of 2.32. Himalaya Shipping has a 52-week low of $4.48 and a 52-week high of $9.76. The firm has a 50-day moving average of $5.10 and a two-hundred day moving average of $6.22.

Himalaya Shipping (NYSE:HSHP) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter. Himalaya Shipping had a net margin of 17.03% and a return on equity of 13.36%. The company had revenue of $29.60 million for the quarter.

Himalaya Shipping Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Wednesday, March 19th will be given a $0.005 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.06 annualized dividend and a yield of 1.04%. Himalaya Shipping’s dividend payout ratio is currently 39.58%.

Institutional Investors Weigh In On Himalaya Shipping

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AM Investment Strategies LLC purchased a new stake in shares of Himalaya Shipping in the fourth quarter valued at $49,000. Price T Rowe Associates Inc. MD purchased a new position in Himalaya Shipping during the fourth quarter valued at approximately $59,000. Salvus Wealth Management LLC lifted its stake in shares of Himalaya Shipping by 27.6% during the 4th quarter. Salvus Wealth Management LLC now owns 13,045 shares of the company’s stock worth $63,000 after purchasing an additional 2,825 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Himalaya Shipping during the 4th quarter worth $66,000. Finally, Intech Investment Management LLC bought a new stake in Himalaya Shipping during the fourth quarter valued at about $68,000. 22.33% of the stock is currently owned by hedge funds and other institutional investors.

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.