Significant Rise in Short Interest for Himalaya Shipping Ltd. (NYSE:HSHP) in March

Himalaya Shipping Ltd. (NYSE:HSHP) witnessed a notable increase in short interest during the month of March. As of March 15, the total short interest amounted to 532,700 shares, a rise of 45.0% compared to the February 28 total of 367,400 shares. Currently, approximately 1.2% of the company's shares are sold short. With an average daily volume of 163,400 shares, the days-to-cover ratio stands at 3.3 days.

Institutional Trading Activity

Recently, several institutional investors and hedge funds have adjusted their positions in Himalaya Shipping. Quadrature Capital Ltd established a new position in the third quarter, valued at $116,000. State Street Corp increased its ownership in the company by 1.7% during the same period, now holding 366,210 shares valued at $3,171,000 after adding 6,090 shares in the last quarter. Additionally, Barclays PLC raised its stake by 143.3% in the third quarter, bringing its total to 114,004 shares worth $987,000 after acquiring an extra 67,149 shares. Furthermore, Salvus Wealth Management LLC boosted its holdings by 27.6% during the fourth quarter, now owning 13,045 shares valued at $63,000 due to the purchase of an additional 2,825 shares. SG Americas Securities LLC also took a new stake in Himalaya Shipping in the fourth quarter, worth approximately $66,000. Overall, 22.33% of the company’s stock is owned by hedge funds and institutional investors.

Stock Performance Update

On Friday, HSHP shares experienced a slight decline of 0.5%, falling by $0.03 to a price of $5.85. The trading volume reached 246,987 shares, surpassing the average volume of 125,251. Over the past year, Himalaya Shipping's stock hit a low of $4.48 and a high of $9.76. The current 50-day moving average sits at $5.27, and the 200-day moving average is at $6.09. The company's market capitalization amounts to $233.20 million, with a price-to-earnings ratio of 12.19 and a beta of 2.32. Its debt-to-equity ratio stands at 4.34, with both the current and quick ratios at 0.87.

Dividend Announcement

Himalaya Shipping has also announced a monthly dividend, scheduled for payment on Tuesday, April 22. Shareholders on record as of Wednesday, March 19, will receive a dividend of $0.005 per share, resulting in an annualized dividend of $0.06 and a yield of 1.03%. The ex-dividend date is set for Tuesday, March 18. The company maintains a payout ratio of 33.33%.

Company Overview

Himalaya Shipping Ltd. specializes in providing dry bulk shipping services across the globe. The company operates a fleet of vessels, catering to major players in commodity trading, energy transition, and multi-modal transport. Established in 2021, Himalaya Shipping is headquartered in Hamilton, Bermuda.

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