Hafnia (NYSE:HAFN) Shares Gap Down – What’s Next?

Hafnia Limited (NYSE:HAFN)’s share price gapped down before the market opened on Monday . The stock had previously closed at $5.69, but opened at $5.57. Hafnia shares last traded at $5.58, with a volume of 2,227,277 shares traded.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reduced their target price on Hafnia from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

Hafnia Trading Down 1.2 %

The business has a 50-day moving average of $6.31 and a 200 day moving average of $7.34. The stock has a market cap of $2.85 billion and a PE ratio of 3.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.49.

Hafnia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th will be given a $0.379 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 26.98%. The ex-dividend date is Thursday, December 5th. Hafnia’s dividend payout ratio is presently 88.82%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale grew its position in shares of Hafnia by 10.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock valued at $21,350,000 after purchasing an additional 290,000 shares during the period. Mirabella Financial Services LLP purchased a new stake in Hafnia in the 3rd quarter valued at about $3,175,000. Marshall Wace LLP purchased a new position in shares of Hafnia during the 2nd quarter worth about $1,025,000. Glenorchy Capital Ltd acquired a new stake in shares of Hafnia in the third quarter worth approximately $726,000. Finally, Acadian Asset Management LLC purchased a new stake in Hafnia in the second quarter valued at approximately $107,651,000.

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.