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

Hafnia Limited (NYSE:HAFN) saw unusually-strong trading volume on Tuesday . Approximately 1,850,982 shares were traded during 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.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut their price target on shares of 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 Up 4.7 %

The stock’s fifty day moving average is $5.51 and its 200 day moving average is $6.62. 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 company has a market capitalization of $2.67 billion and a P/E ratio of 3.10.

Hafnia (NYSE:HAFN) last issued its quarterly earnings data on Wednesday, November 27th. The company reported $0.42 EPS for the quarter, topping the consensus estimate 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 firm 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 was Friday, December 6th. This represents a $1.52 annualized dividend and a dividend yield of 28.79%. Hafnia’s payout ratio is 89.41%.

Institutional Trading of Hafnia

A number of institutional investors and hedge funds have recently bought and sold shares of HAFN. SJS Investment Consulting Inc. bought a new stake in Hafnia during the 4th quarter valued at about $89,000. Clear Harbor Asset Management LLC bought a new stake in shares of Hafnia in the fourth quarter worth approximately $92,000. Infrastructure Capital Advisors LLC bought a new stake in shares of Hafnia in the third quarter worth approximately $119,000. DGS Capital Management LLC purchased a new position in shares of Hafnia in the third quarter worth approximately $121,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Hafnia in the third quarter worth approximately $128,000.

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.