Himalaya Shipping Ltd. (NYSE:HSHP) Sees Significant Increase in Short Interest

Himalaya Shipping Ltd. (NYSE:HSHP) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 336,900 shares, a growth of 24.4% from the June 30th total of 270,800 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average trading volume of 106,900 shares, the short-interest ratio is presently 3.2 days.

Hedge Funds Weigh In On Himalaya Shipping

Several institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. bought a new stake in Himalaya Shipping during the 4th quarter worth approximately $214,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Himalaya Shipping during the 4th quarter worth approximately $70,000. Kim LLC bought a new stake in Himalaya Shipping during the 4th quarter worth approximately $14,023,000. GSA Capital Partners LLP bought a new stake in Himalaya Shipping during the 1st quarter worth approximately $771,000. Finally, Bank of New York Mellon Corp raised its stake 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 acquiring an additional 12,400 shares during the period. Institutional investors own 22.33% of the company’s stock.

Himalaya Shipping Stock Performance

HSHP traded down $0.01 during midday trading on Tuesday, hitting $7.95. 54,591 shares of the company traded hands, compared to its average volume of 101,335. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50-day moving average is $8.72 and its 200 day moving average is $8.07. Himalaya Shipping has a 52 week low of $4.30 and a 52 week high of $9.76.

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

Himalaya Shipping Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 19th will be paid a $0.05 dividend. This represents a $0.60 annualized dividend and a dividend yield of 7.55%. The ex-dividend date is Friday, July 19th. This is a boost from Himalaya Shipping’s previous monthly dividend of $0.04.

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.