Himalaya Shipping Ltd. (NYSE:HSHP) Short Interest Down 12.5% in July

Himalaya Shipping Ltd. (NYSE:HSHP) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 294,700 shares, a drop of 12.5% from the July 15th total of 336,900 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 101,100 shares, the short-interest ratio is currently 2.9 days.

Analyst Ratings Changes

Separately, DNB Markets downgraded shares of Himalaya Shipping from a “hold” rating to a “sell” rating in a report on Monday.

Himalaya Shipping Stock Down 4.2 %

HSHP stock traded down $0.32 during trading on Monday, reaching $7.24. 110,999 shares of the company were exchanged, compared to its average volume of 100,228. Himalaya Shipping has a 52-week low of $4.30 and a 52-week high of $9.76. The stock’s 50 day moving average price is $8.27 and its 200 day moving average price is $8.16. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 3.62.

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

Himalaya Shipping Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.72 dividend on an annualized basis and a yield of 9.94%. This is a boost from Himalaya Shipping’s previous monthly dividend of $0.05.

Hedge Funds Weigh In On Himalaya Shipping

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HSHP. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Himalaya Shipping in the fourth quarter valued at approximately $70,000. Russell Investments Group Ltd. acquired a new position in shares of Himalaya Shipping in the fourth quarter valued at approximately $214,000. Rhumbline Advisers raised its position in shares of Himalaya Shipping by 17.2% in the second quarter. Rhumbline Advisers now owns 38,407 shares of the company’s stock valued at $352,000 after buying an additional 5,623 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 valued at $770,000 after buying an additional 12,400 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Himalaya Shipping during the first quarter worth approximately $771,000. 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.