Hafnia (NYSE:HAFN) Reaches New 1-Year Low – Here’s What Happened

Hafnia Limited (NYSE:HAFN)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $4.98 and last traded at $4.98, with a volume of 629832 shares traded. The stock had previously closed at $5.05.

Analysts Set New Price Targets

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

Hafnia Stock Performance

The stock has a market cap of $2.53 billion and a PE ratio of 2.93. The stock has a fifty day moving average of $5.39 and a 200-day moving average of $6.22. 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 (NYSE:HAFN) last issued its earnings results on Wednesday, November 27th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.09. Hafnia had a net margin of 53.44% and a return on equity of 36.90%.

Hafnia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, December 6th were issued a $0.379 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 30.41%. The ex-dividend date of this dividend was Friday, December 6th. Hafnia’s dividend payout ratio is currently 89.41%.

Hedge Funds Weigh In On Hafnia

Hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale increased its stake in shares of Hafnia by 10.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock worth $21,350,000 after purchasing an additional 290,000 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in Hafnia during the 3rd quarter valued at $3,175,000. Bank of Montreal Can purchased a new position in Hafnia during the third quarter worth $3,774,000. Jane Street Group LLC raised its holdings in shares of Hafnia by 671.7% in the third quarter. Jane Street Group LLC now owns 257,427 shares of the company’s stock worth $1,833,000 after acquiring an additional 224,070 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Hafnia in the fourth quarter valued at $3,123,000.

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.