Hafnia (NYSE:HAFN) Sees Strong Trading Volume – Should You Buy?

Shares of Hafnia Limited (NYSE:HAFN) saw strong trading volume on Wednesday . 968,113 shares traded hands during mid-day trading, an increase of 76% from the previous session’s volume of 548,703 shares.The stock last traded at $5.43 and had previously closed at $5.66.

Hafnia Stock Performance

The company has a market capitalization of $2.77 billion and a price-to-earnings ratio of 3.48. The stock has a 50 day simple moving average of $6.98 and a 200 day simple moving average of $7.64. The company has a quick ratio of 1.33, a current ratio of 1.49 and a debt-to-equity ratio of 0.33.

Hafnia (NYSE:HAFN) last announced its quarterly earnings results on Friday, August 23rd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.09. The company had revenue of $417.36 million during the quarter, compared to the consensus estimate of $387.14 million. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. As a group, analysts anticipate that Hafnia Limited will post 1.59 earnings per share for the current fiscal year.

Hafnia Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.4049 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Hafnia’s previous quarterly dividend of $0.34. This represents a $1.62 annualized dividend and a dividend yield of 29.61%. Hafnia’s payout ratio is currently 103.18%.

Hedge Funds Weigh In On Hafnia

A number of institutional investors and hedge funds have recently bought and sold shares of HAFN. Mondrian Investment Partners LTD bought a new position in Hafnia during the second quarter valued at about $43,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Hafnia in the 2nd quarter worth approximately $60,000. Prudential PLC acquired a new stake in Hafnia during the second quarter valued at approximately $100,000. TD Asset Management Inc bought a new stake in Hafnia during the second quarter worth approximately $148,000. Finally, XTX Topco Ltd bought a new position in shares of Hafnia in the second quarter valued at $183,000.

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.