Short Interest in Himalaya Shipping Ltd. (NYSE:HSHP) Grows By 15.6%

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

Himalaya Shipping Trading Up 0.1 %

Shares of Himalaya Shipping stock opened at $7.29 on Monday. The firm’s 50 day simple moving average is $7.57 and its two-hundred day simple moving average is $8.08. Himalaya Shipping has a 12-month low of $4.95 and a 12-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.

Himalaya Shipping (NYSE:HSHP) last released its earnings results on Friday, August 16th. The company reported $0.16 earnings per share (EPS) for the quarter. The firm 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 company also recently disclosed 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. This represents a $0.48 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend is Monday, November 18th.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Himalaya Shipping

A number of institutional investors and hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC grew its position in Himalaya Shipping by 166.0% during the 2nd quarter. Hsbc Holdings PLC now owns 95,767 shares of the company’s stock worth $845,000 after purchasing an additional 59,765 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 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 worth $770,000 after buying an additional 12,400 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Himalaya Shipping in the third quarter worth about $87,000. Rhumbline Advisers grew its holdings 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 acquiring an additional 5,623 shares during the period. Finally, Creative Planning purchased a new position in Himalaya Shipping during the third quarter valued at approximately $155,000. Institutional investors and hedge funds own 22.33% of the company’s stock.

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.