Hafnia (NYSE:HAFN) Trading Down 3.3% – Here’s What Happened

Hafnia Limited (NYSE:HAFN)’s stock price was down 3.3% on Friday . The stock traded as low as $5.12 and last traded at $5.11. Approximately 1,277,156 shares changed hands during trading, a decline of 61% from the average daily volume of 3,301,465 shares. The stock had previously closed at $5.28.

Analyst Upgrades and Downgrades

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

Hafnia Stock Down 2.4 %

The company has a current ratio of 1.70, a quick ratio of 1.52 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.61 billion and a price-to-earnings ratio of 3.03. The firm’s 50 day simple moving average is $5.51 and its two-hundred day simple moving average is $6.62.

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

Hafnia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, December 6th were paid a dividend of $0.379 per share. The ex-dividend date was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 29.41%. Hafnia’s payout ratio is 89.41%.

Institutional Inflows and Outflows

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

About Hafnia

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.