Hafnia (NYSE:HAFN) Trading Down 2.8% – What’s Next?

Hafnia Limited (NYSE:HAFN)’s stock price traded down 2.8% during trading on Wednesday . The stock traded as low as $5.92 and last traded at $5.93. 1,193,052 shares were traded during trading, a decline of 51% from the average session volume of 2,435,132 shares. The stock had previously closed at $6.10.

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 research note on Tuesday, December 17th.

Hafnia Stock Performance

The company has a market cap of $2.76 billion and a P/E ratio of 3.20. The business has a fifty day moving average of $5.51 and a 200 day moving average of $6.71. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th were given a $0.379 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.52 annualized dividend and a dividend yield of 27.84%. Hafnia’s dividend payout ratio is 88.82%.

Hedge Funds Weigh In On Hafnia

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clear Harbor Asset Management LLC bought a new stake in Hafnia during the 4th quarter valued at approximately $92,000. Infrastructure Capital Advisors LLC purchased a new position in shares of Hafnia in the 3rd quarter valued at approximately $119,000. DGS Capital Management LLC bought a new stake in shares of Hafnia during the third quarter valued at approximately $121,000. Quantinno Capital Management LP purchased a new stake in Hafnia in the third quarter worth $128,000. Finally, Syquant Capital Sas bought a new position in Hafnia in the fourth quarter worth $165,000.

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.