Hafnia (NYSE:HAFN) Stock Price Down 2.6% – Should You Sell?

Shares of Hafnia Limited (NYSE:HAFN) were down 2.6% on Wednesday . The stock traded as low as $6.64 and last traded at $6.66. Approximately 1,774,707 shares traded hands during trading, an increase of 295% from the average daily volume of 449,832 shares. The stock had previously closed at $6.84.

Hafnia Price Performance

The company has a market cap of $3.37 billion and a P/E ratio of 4.22. The firm has a 50-day simple moving average of $7.47. The company has a current ratio of 1.49, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33.

Hafnia (NYSE:HAFN) last announced its quarterly earnings data on Friday, August 23rd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.42 by $0.09. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. The business had revenue of $417.36 million during the quarter, compared to the consensus estimate of $387.14 million. Sell-side analysts predict that Hafnia Limited will post 1.6 EPS for the current year.

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a $0.4049 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.62 annualized dividend and a dividend yield of 24.39%. This is an increase from Hafnia’s previous quarterly dividend of $0.34. Hafnia’s dividend payout ratio is currently 103.19%.

Institutional Trading of Hafnia

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mondrian Investment Partners LTD acquired a new position in Hafnia in the second quarter valued at $43,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Hafnia during the 2nd quarter valued at about $60,000. Prudential PLC acquired a new stake in Hafnia during the second quarter worth approximately $100,000. TD Asset Management Inc bought a new stake in Hafnia in the second quarter worth approximately $148,000. Finally, XTX Topco Ltd acquired a new position in Hafnia in the second quarter valued at approximately $183,000.

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.