Himalaya Shipping Ltd. (NYSE:HSHP) Sees Short Interest Surge in March

Himalaya Shipping Ltd. (NYSE:HSHP - Get Free Report) experienced a notable spike in short interest during March. By the cutoff date of March 15th, the total number of shorted shares reached 532,700, marking a significant increase of 45.0% compared to the total of 367,400 shares on February 28th. Presently, about 1.2% of the company’s stocks are sold short. Considering the average daily trading volume is 163,400 shares, the current days-to-cover ratio stands at 3.3 days.

Recent Institutional Activity

Recent changes in positions by institutional investors and hedge funds have also been observed within Himalaya Shipping. Quadrature Capital Ltd acquired a new stake valued at approximately $116,000 during the third quarter. State Street Corp increased its holdings by 1.7%, bringing its total to 366,210 shares, now worth $3,171,000 after securing an additional 6,090 shares in the preceding quarter. Furthermore, Barclays PLC enhanced its stake in the company by an impressive 143.3% in the third quarter, now owning 114,004 shares worth about $987,000 after buying an additional 67,149 shares. Salvus Wealth Management LLC raised its ownership by 27.6% in the last quarter, holding 13,045 shares valued at $63,000 after adding 2,825 shares. In addition, SG Americas Securities LLC entered a new investment in Himalaya Shipping valued at around $66,000. Collectively, hedge funds and institutional investors hold approximately 22.33% of the company's stock.

Current Stock Performance

During trading on Friday, the shares of HSHP declined slightly by $0.03, settling at $5.85. The trading volume reached 246,987 shares, significantly above its average volume of 125,251. Over the past year, Himalaya Shipping has seen its stock fluctuate between a low of $4.48 and a high of $9.76. The 50-day moving average price of the stock is $5.27, while the 200-day moving average is $6.09. With a market capitalization of $233.20 million, the company exhibits a price-to-earnings ratio of 12.19 and a beta of 2.32. Financial ratios indicate the company has a debt-to-equity ratio of 4.34, alongside a current ratio and quick ratio of both 0.87.

Dividend Announcement

Himalaya Shipping has recently declared a monthly dividend, which is set to be disbursed on Tuesday, April 22nd. Investors recorded as of Wednesday, March 19th, will receive a dividend of $0.005 per share, translating to an annualized dividend of $0.06 and a yield of 1.03%. The ex-dividend date is scheduled for Tuesday, March 18th, with the company maintaining a payout ratio of 33.33%.

Company Overview

Himalaya Shipping Ltd. offers dry bulk shipping services globally, operating a diverse fleet of vessels. The company caters to major players in commodity trading, energy transition, and multi-modal transport sectors. Founded in 2021, its headquarters are located in Hamilton, Bermuda.

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This article was based on the latest financial data and insights regarding Himalaya Shipping. All efforts have been made for the information presented to be accurate and timely.

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