DNB Markets Downgrades Himalaya Shipping (NYSE:HSHP) to Sell

Himalaya Shipping (NYSE:HSHP) was downgraded by research analysts at DNB Markets from a “hold” rating to a “sell” rating in a report released on Monday, MarketBeat.com reports.

Himalaya Shipping Stock Up 0.7 %

HSHP stock opened at $7.28 on Monday. The firm’s fifty day simple moving average is $8.24 and its 200-day simple moving average is $8.17. 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 has a 12 month low of $4.30 and a 12 month high of $9.76.

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

Institutional Trading of Himalaya Shipping

Hedge funds have recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. purchased a new stake in Himalaya Shipping during the fourth quarter worth $70,000. Russell Investments Group Ltd. acquired a new position in Himalaya Shipping during the fourth quarter worth $214,000. Rhumbline Advisers raised its position 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. Bank of New York Mellon Corp raised 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 worth $770,000 after acquiring an additional 12,400 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Himalaya Shipping during the first quarter worth $771,000. 22.33% of the stock is owned by hedge funds and other institutional investors.

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.