Hafnia (NYSE:HAFN) Reaches New 52-Week Low – Should You Sell?

Hafnia Limited (NYSE:HAFN) shares hit a new 52-week low during trading on Monday . The stock traded as low as $4.98 and last traded at $4.98, with a volume of 629832 shares changing hands. The stock had previously closed at $5.05.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reduced 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 Stock Down 1.3 %

The company has a current ratio of 1.70, a quick ratio of 1.52 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $5.39 and a two-hundred day simple moving average of $6.22. The company has a market cap of $2.53 billion and a PE ratio of 2.93.

Hafnia (NYSE:HAFN) last posted its quarterly earnings results on Wednesday, November 27th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. Hafnia had a net margin of 53.44% and a return on equity of 36.90%.

Hafnia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, December 6th were issued a $0.379 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.52 annualized dividend and a dividend yield of 30.41%. Hafnia’s dividend payout ratio is presently 89.41%.

Institutional Trading of Hafnia

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in Hafnia by 654.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 54,143 shares of the company’s stock worth $386,000 after purchasing an additional 46,963 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in 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 buying an additional 290,000 shares during the last quarter. Sigma Planning Corp purchased a new position in Hafnia during the third quarter worth about $202,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Hafnia in the 3rd quarter valued at approximately $242,000. Finally, Mirabella Financial Services LLP acquired a new position in shares of Hafnia in the 3rd quarter worth approximately $3,175,000.

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.