Himalaya Shipping Ltd. (NYSE:HSHP) Short Interest Up 23.8% in August

Himalaya Shipping Ltd. (NYSE:HSHP) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 378,500 shares, a growth of 23.8% from the August 15th total of 305,800 shares. Based on an average daily volume of 107,100 shares, the days-to-cover ratio is currently 3.5 days. Approximately 1.7% of the company’s shares are sold short.

Himalaya Shipping Trading Up 2.8 %

Himalaya Shipping stock opened at $7.65 on Friday. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.78 and a quick ratio of 0.78. Himalaya Shipping has a one year low of $4.30 and a one year high of $9.76. The business has a fifty day moving average of $7.77 and a two-hundred day moving average of $8.16.

Himalaya Shipping (NYSE:HSHP) last posted its quarterly earnings results on Friday, August 16th. The company reported $0.16 EPS for the quarter. The business had revenue of $31.20 million during the quarter.

Himalaya Shipping Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This is a positive change from Himalaya Shipping’s previous monthly dividend of $0.06. This represents a $0.84 annualized dividend and a yield of 10.98%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Himalaya Shipping

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers raised 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 in the last quarter. Bank of New York Mellon Corp grew 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 purchasing an additional 12,400 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Himalaya Shipping during the fourth quarter valued at about $214,000. Hsbc Holdings PLC boosted its stake in Himalaya Shipping by 166.0% during the second quarter. Hsbc Holdings PLC now owns 95,767 shares of the company’s stock valued at $845,000 after buying an additional 59,765 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Himalaya Shipping during the first quarter valued at $771,000. 22.33% of the stock is owned by institutional investors and hedge funds.

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.