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

Hafnia Limited (NYSE:HAFN) shares gapped down prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

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

Hafnia Trading Down 1.2 %

The company has a market cap of $2.85 billion and a price-to-earnings ratio of 3.35. The business has a fifty day simple moving average of $6.31 and a 200 day simple moving average of $7.34. 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 Cuts Dividend

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

Institutional Trading of Hafnia

A number of institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in Hafnia during the second quarter worth $107,651,000. DekaBank Deutsche Girozentrale raised its stake in shares of Hafnia by 10.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock worth $21,350,000 after buying an additional 290,000 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Hafnia during the 2nd quarter worth $24,514,000. Barclays PLC boosted its position in shares of Hafnia by 72.7% in the 3rd quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock worth $19,580,000 after buying an additional 1,151,528 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Hafnia in the 3rd quarter valued at about $3,774,000.

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.