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

Himalaya Shipping Ltd. (NYSE:HSHP) was the target of a significant growth in short interest in the month of 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 trading volume of 105,400 shares, the short-interest ratio is currently 3.2 days. Approximately 1.3% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC bought a new stake in Himalaya Shipping during the third quarter worth approximately $87,000. Quadrature Capital Ltd bought a new stake in Himalaya Shipping in the third quarter worth $116,000. Creative Planning purchased a new position in Himalaya Shipping during the third quarter worth $155,000. Rhumbline Advisers boosted its stake 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 buying an additional 5,623 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Himalaya Shipping by 17.3% during 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 last quarter. Institutional investors own 22.33% of the company’s stock.

Himalaya Shipping Stock Performance

Shares of NYSE HSHP traded up $0.05 during mid-day trading on Friday, reaching $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 debt-to-equity ratio of 4.34, a quick ratio of 0.78 and a current ratio of 0.87. Himalaya Shipping has a 52 week low of $4.95 and a 52 week high of $9.76. The stock has a fifty day moving average of $7.57 and a two-hundred day moving average of $8.08.

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

Himalaya Shipping Cuts Dividend

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

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.