Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume – Time to Buy?

Hafnia Limited (NYSE:HAFN) shares saw an uptick in trading volume on Tuesday . 1,850,982 shares changed hands during mid-day trading, a decline of 30% from the previous session’s volume of 2,659,699 shares.The stock last traded at $5.11 and had previously closed at $5.43.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reduced their price objective on Hafnia from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, December 17th.

Hafnia Stock Performance

The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.67 billion and a P/E ratio of 3.10. The stock has a fifty day moving average of $5.51 and a 200-day moving average of $6.62.

Hafnia (NYSE:HAFN) last issued its quarterly earnings results on Wednesday, November 27th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.33 by $0.09. Hafnia had a return on equity of 36.90% and a net margin of 53.44%.

Hafnia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, December 6th were paid a $0.379 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 28.79%. Hafnia’s dividend payout ratio (DPR) is currently 89.41%.

Institutional Trading of Hafnia

Large investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in Hafnia by 72.7% in the third quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock worth $19,580,000 after purchasing an additional 1,151,528 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Hafnia during the fourth quarter valued at about $3,123,000. Bank of Montreal Can bought a new position in shares of Hafnia during the third quarter valued at about $3,774,000. Mirabella Financial Services LLP bought a new position in shares of Hafnia during the third quarter valued at about $3,175,000. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Hafnia by 10.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock valued at $21,350,000 after purchasing an additional 290,000 shares in the last quarter.

Hafnia Company Profile

Hafnia Limited owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), Handy size, and Specialized segments. The company transports clean and dirty, refined oil products, vegetable oil, and easy chemicals to national and international oil companies, and chemical companies, as well as trading and utility companies; and owns and operates 200 vessels.