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

Himalaya Shipping (NYSE:HSHP) was downgraded by equities researchers at DNB Markets from a “hold” rating to a “sell” rating in a research note issued on Monday, FinViz reports.

Himalaya Shipping Price Performance

NYSE HSHP traded down $0.16 on Monday, reaching $7.34. The company had a trading volume of 56,677 shares, compared to its average volume of 99,850. The firm’s 50 day moving average price is $8.31 and its 200 day moving average price is $8.16. Himalaya Shipping has a 12 month low of $4.30 and a 12 month 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.

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

Institutional Investors Weigh In On Himalaya Shipping

Several hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new position in Himalaya Shipping during the 4th quarter worth $214,000. Pinnacle Wealth Planning Services Inc. purchased a new position in Himalaya Shipping during the 4th quarter worth $70,000. Kim LLC purchased a new position in Himalaya Shipping during the 4th quarter worth $14,023,000. GSA Capital Partners LLP purchased a new position in Himalaya Shipping during the 1st quarter worth $771,000. Finally, Bank of New York Mellon Corp increased its holdings in Himalaya Shipping by 17.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 84,091 shares of the company’s stock worth $770,000 after purchasing an additional 12,400 shares during the period. 22.33% of the stock is currently owned by hedge funds and other institutional investors.

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.