Hafnia (NYSE:HAFN) Shares Gap Up – Should You Buy?

Hafnia Limited (NYSE:HAFN) shares gapped up prior to trading on Thursday . The stock had previously closed at $4.28, but opened at $4.38. Hafnia shares last traded at $4.40, with a volume of 629,178 shares.

Analysts Set New Price Targets

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

Hafnia Trading Up 3.2 %

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 company has a 50-day moving average price of $5.26 and a 200-day moving average price of $6.05. The company has a market capitalization of $2.24 billion and a price-to-earnings ratio of 2.60.

Hafnia Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, March 7th will be paid a dividend of $0.0294 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.12 annualized dividend and a yield of 2.66%. Hafnia’s dividend payout ratio is 7.28%.

Hedge Funds Weigh In On Hafnia

A number of hedge funds have recently made changes to their positions in HAFN. WealthCollab LLC acquired a new position in Hafnia during the fourth quarter worth $28,000. Bernard Wealth Management Corp. acquired a new stake in shares of Hafnia during the 4th quarter worth about $58,000. Vise Technologies Inc. acquired a new position in Hafnia in the fourth quarter valued at about $71,000. SJS Investment Consulting Inc. bought a new stake in Hafnia during the fourth quarter worth about $89,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Hafnia during the fourth quarter worth approximately $92,000.

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.