Hafnia (NYSE:HAFN) Shares Gap Up – Still a Buy?

Hafnia Limited (NYSE:HAFN) shares gapped up prior to trading on Thursday . The stock had previously closed at $4.28, but opened at $4.38. Hafnia shares last traded at $4.40, with a volume of 629,178 shares.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lowered 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 $2.22 billion and a P/E ratio of 2.58. The firm’s 50-day moving average price is $5.21 and its 200-day moving average price is $6.01. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.52.

Hafnia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.0294 per share. This represents a $0.12 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, March 7th. Hafnia’s dividend payout ratio (DPR) is presently 7.28%.

Institutional Investors Weigh In On Hafnia

A number of hedge funds have recently made changes to their positions in HAFN. Sigma Planning Corp purchased a new stake in shares of Hafnia during the 3rd quarter worth approximately $202,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Hafnia during the third quarter valued at approximately $242,000. Mirabella Financial Services LLP purchased a new stake in shares of Hafnia in the third quarter worth approximately $3,175,000. Bank of Montreal Can bought a new stake in shares of Hafnia during the 3rd quarter worth approximately $3,774,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in shares of Hafnia during the 3rd quarter worth approximately $119,000.

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.