Hafnia (NYSE:HAFN) Shares Gap Down – Here’s What Happened

Hafnia Limited (NYSE:HAFN) shares gapped down before the market opened on Friday . The stock had previously closed at $5.50, but opened at $5.39. Hafnia shares last traded at $5.41, with a volume of 484,988 shares trading hands.

Analysts Set New Price Targets

Separately, Jefferies Financial Group decreased their target price 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 Trading Down 1.5 %

The firm has a market cap of $2.75 billion and a P/E ratio of 3.19. The company’s 50 day simple moving average is $5.61 and its 200-day simple moving average is $6.95. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.

Hafnia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, December 6th were issued a dividend of $0.379 per share. This represents a $1.52 dividend on an annualized basis and a yield of 27.97%. The ex-dividend date of this dividend was Friday, December 6th. Hafnia’s payout ratio is currently 88.82%.

Institutional Trading of Hafnia

Large investors have recently made changes to their positions in the stock. DGS Capital Management LLC acquired a new stake in Hafnia in the third quarter worth about $121,000. Tidal Investments LLC purchased a new stake in Hafnia in the 3rd quarter worth $198,000. Barclays PLC grew its position in shares of Hafnia by 72.7% in the third quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock valued at $19,580,000 after purchasing an additional 1,151,528 shares during the period. XTX Topco Ltd raised its position in shares of Hafnia by 625.6% during the 3rd quarter. XTX Topco Ltd now owns 158,583 shares of the company’s stock worth $1,135,000 after purchasing an additional 136,727 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Hafnia by 671.7% in the 3rd quarter. Jane Street Group LLC now owns 257,427 shares of the company’s stock valued at $1,833,000 after buying an additional 224,070 shares in the last quarter.

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.