Hafnia (NYSE:HAFN) Trading Down 3.3% – Here’s What Happened

Hafnia Limited (NYSE:HAFN) shares traded down 3.3% during mid-day trading on Friday . The stock 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.

Analyst Upgrades and Downgrades

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

Hafnia Stock Down 3.1 %

The stock’s fifty day simple moving average is $5.50 and its 200-day simple moving average is $6.58. The stock has a market cap of $2.59 billion and a P/E ratio of 3.01. 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 (NYSE:HAFN) last issued its quarterly earnings results on Wednesday, November 27th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.09. Hafnia had a return on equity of 36.90% and a net margin of 53.44%.

Hafnia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th were issued a dividend of $0.379 per share. This represents a $1.52 annualized dividend and a dividend yield of 29.64%. The ex-dividend date of this dividend was Friday, December 6th. Hafnia’s dividend payout ratio (DPR) is currently 89.41%.

Institutional Investors Weigh In On Hafnia

Several institutional investors and hedge funds have recently bought and sold shares of HAFN. SJS Investment Consulting Inc. acquired a new position in shares of Hafnia in the 4th quarter valued at approximately $89,000. Clear Harbor Asset Management LLC bought a new position in Hafnia in the fourth quarter valued at approximately $92,000. Infrastructure Capital Advisors LLC acquired a new position in Hafnia during the third quarter valued at approximately $119,000. DGS Capital Management LLC bought a new stake in Hafnia during the third quarter worth $121,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Hafnia in the 3rd quarter valued at $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.