Hafnia (NYSE:HAFN) Sees Large Volume Increase – Here’s What Happened

Hafnia Limited (NYSE:HAFN) shares saw an uptick in trading volume on Tuesday . 610,569 shares changed hands during mid-day trading, a decline of 14% from the previous session’s volume of 707,996 shares.The stock last traded at $5.75 and had previously closed at $5.63.

Analysts Set New Price Targets

Separately, Jefferies Financial Group decreased their price target on Hafnia from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

Hafnia Stock Up 4.1 %

The company has a quick ratio of 1.33, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average price of $6.27 and a two-hundred day moving average price of $7.32. The company has a market capitalization of $2.97 billion and a price-to-earnings ratio of 3.31.

Hafnia Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders 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 25.87%. The ex-dividend date is Thursday, December 5th. Hafnia’s payout ratio is 95.29%.

Institutional Investors Weigh In On Hafnia

Several hedge funds and other institutional investors have recently modified their holdings of HAFN. Acadian Asset Management LLC acquired a new stake in shares of Hafnia during the 2nd quarter valued at approximately $107,651,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Hafnia by 10.5% during the third 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 during the period. Hsbc Holdings PLC bought a new position in shares of Hafnia in the 2nd quarter worth about $24,514,000. Barclays PLC boosted its holdings in shares of Hafnia by 72.7% in the 3rd quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock valued at $19,580,000 after buying an additional 1,151,528 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Hafnia during the 3rd quarter valued at about $3,774,000.

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.