Hafnia (NYSE:HAFN) Hits New 52-Week Low – What’s Next?

Hafnia Limited (NYSE:HAFN)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $3.61 and last traded at $3.66, with a volume of 2606285 shares traded. The stock had previously closed at $4.03.

Wall Street Analyst Weigh In

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

Hafnia Price Performance

The company has a market cap of $1.85 billion and a P/E ratio of 2.14. The stock has a 50-day simple moving average of $4.69 and a 200 day simple moving average of $5.54. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70.

Hafnia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, March 7th were paid a dividend of $0.0294 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.12 dividend on an annualized basis and a yield of 3.23%. Hafnia’s dividend payout ratio is currently 7.28%.

Institutional Trading of Hafnia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HAFN. WealthCollab LLC bought a new stake in Hafnia in the fourth quarter valued at $28,000. Bernard Wealth Management Corp. acquired a new stake in shares of Hafnia in the 4th quarter valued at $58,000. Vise Technologies Inc. bought a new stake in shares of Hafnia in the 4th quarter worth about $71,000. SJS Investment Consulting Inc. acquired a new stake in shares of Hafnia during the 4th quarter worth about $89,000. Finally, Clear Harbor Asset Management LLC bought a new position in Hafnia during the 4th quarter valued at about $92,000.

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.