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

Hafnia Limited (NYSE:HAFN) gapped up before the market opened on Friday . The stock had previously closed at $5.55, but opened at $5.85. Hafnia shares last traded at $5.96, with a volume of 1,253,545 shares traded.

Analyst Ratings Changes

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

Hafnia Stock Performance

The firm has a market cap of $2.99 billion and a price-to-earnings ratio of 3.47. 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 stock has a 50 day moving average of $5.48 and a 200 day moving average of $6.79.

Hafnia Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 25.69%. The ex-dividend date of this dividend was Friday, December 6th. Hafnia’s dividend payout ratio (DPR) is presently 88.82%.

Hedge Funds Weigh In On Hafnia

Hedge funds and other institutional investors have recently modified their holdings of the business. Mondrian Investment Partners LTD bought a new position in shares of Hafnia in the second quarter worth about $43,000. Prudential PLC bought a new position in Hafnia in the 2nd quarter valued at approximately $100,000. Infrastructure Capital Advisors LLC acquired a new stake in Hafnia in the third quarter valued at approximately $119,000. DGS Capital Management LLC bought a new position in shares of Hafnia in the 3rd quarter valued at $121,000. Finally, TD Asset Management Inc bought a new position in shares of Hafnia during the second quarter valued at $148,000.

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.