Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Hafnia Limited (NYSE:HAFN) saw unusually-high trading volume on Wednesday . Approximately 474,728 shares changed hands during trading, a decline of 40% from the previous session’s volume of 790,651 shares.The stock last traded at $5.44 and had previously closed at $5.46.

Analyst Ratings Changes

Separately, Jefferies Financial Group lowered their price target on shares of Hafnia from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

Hafnia Stock Performance

The stock’s fifty day moving average price is $6.06 and its two-hundred day moving average price is $7.20. The company has a market cap of $2.74 billion and a P/E ratio of 3.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70.

Hafnia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.379 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 28.07%. Hafnia’s dividend payout ratio (DPR) is currently 88.82%.

Institutional Investors Weigh In On Hafnia

A number of hedge funds have recently made changes to their positions in HAFN. Acadian Asset Management LLC acquired a new stake in shares of Hafnia during the second quarter valued at about $107,651,000. Hsbc Holdings PLC bought a new stake in Hafnia during the 2nd quarter worth approximately $24,514,000. DekaBank Deutsche Girozentrale acquired a new position in Hafnia in the 2nd quarter valued at approximately $23,646,000. Barclays PLC lifted its holdings in shares of Hafnia by 72.7% during the third quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock worth $19,580,000 after purchasing an additional 1,151,528 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Hafnia in the third quarter worth $3,774,000.

Hafnia Company Profile

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.