Hafnia (NYSE:HAFN) Trading Down 3.3% – Time to Sell?

Hafnia Limited (NYSE:HAFN) traded down 3.3% on Friday . The company traded as low as $5.12 and last traded at $5.11. 1,277,156 shares were traded during mid-day trading, a decline of 61% from the average session volume of 3,301,465 shares. The stock had previously closed at $5.28.

Analysts Set New Price Targets

Separately, Jefferies Financial Group cut their target price on Hafnia from $8.00 to $6.50 and set a “buy” rating on the stock in a report on Tuesday, December 17th.

Hafnia Price Performance

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 business’s 50-day simple moving average is $5.51 and its two-hundred day simple moving average is $6.62. The firm has a market cap of $2.61 billion and a price-to-earnings ratio of 3.03.

Hafnia (NYSE:HAFN) last posted its quarterly earnings data on Wednesday, November 27th. The company reported $0.42 earnings per share 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. Shareholders of record on Friday, December 6th were paid a $0.379 dividend. This represents a $1.52 annualized dividend and a yield of 29.41%. The ex-dividend date was Friday, December 6th. Hafnia’s dividend payout ratio (DPR) is presently 89.41%.

Institutional Trading of Hafnia

Hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its stake in 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 purchasing an additional 290,000 shares during the period. Mirabella Financial Services LLP bought a new stake in shares of Hafnia in the 3rd quarter worth approximately $3,175,000. Marshall Wace LLP purchased a new position in Hafnia in the second quarter valued at approximately $1,025,000. Bank of Montreal Can purchased a new position in shares of Hafnia during the 3rd quarter valued at $3,774,000. Finally, Jane Street Group LLC boosted its position in Hafnia by 671.7% during the third quarter. Jane Street Group LLC now owns 257,427 shares of the company’s stock worth $1,833,000 after purchasing an additional 224,070 shares during the period.

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.