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

Hafnia Limited (NYSE:HAFN) gapped down before the market opened on Monday . The stock had previously closed at $6.20, but opened at $5.98. Hafnia shares last traded at $6.04, with a volume of 730,759 shares trading hands.

Hafnia Stock Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.49. The firm has a market capitalization of $2.99 billion and a PE ratio of 3.75. The company’s fifty day moving average price is $7.28 and its two-hundred day moving average price is $7.72.

Hafnia (NYSE:HAFN) last released its quarterly earnings results on Friday, August 23rd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.42 by $0.09. The business had revenue of $417.36 million for the quarter, compared to analysts’ expectations of $387.14 million. Hafnia had a return on equity of 34.28% and a net margin of 47.30%. As a group, equities analysts expect that Hafnia Limited will post 1.6 earnings per share for the current year.

Hafnia Increases Dividend

The business also recently declared 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 represents a $1.62 dividend on an annualized basis and a dividend yield of 27.50%. This is an increase from Hafnia’s previous quarterly dividend of $0.34. Hafnia’s dividend payout ratio (DPR) is presently 103.18%.

Institutional Trading of Hafnia

Institutional investors have recently added to or reduced their stakes in the stock. Mondrian Investment Partners LTD acquired a new position in Hafnia during the 2nd quarter worth $43,000. Allspring Global Investments Holdings LLC bought a new position in shares of Hafnia during the second quarter worth about $60,000. Prudential PLC bought a new position in shares of Hafnia during the second quarter worth about $100,000. TD Asset Management Inc acquired a new position in Hafnia in the second quarter worth about $148,000. Finally, XTX Topco Ltd bought a new stake in Hafnia in the second quarter valued at about $183,000.

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.