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

Hafnia Limited (NYSE:HAFN) shares saw unusually-high trading volume on Wednesday . Approximately 1,172,531 shares traded hands during trading, an increase of 98% from the previous session’s volume of 590,947 shares.The stock last traded at $5.24 and had previously closed at $5.17.

Analyst Upgrades and Downgrades

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

Hafnia Trading Up 3.4 %

The firm’s fifty day simple moving average is $6.74 and its 200-day simple moving average is $7.56. 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 stock has a market cap of $2.74 billion and a P/E ratio of 3.45.

Hafnia (NYSE:HAFN) last announced its earnings results on Friday, August 23rd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. The business had revenue of $417.36 million during the quarter, compared to the consensus estimate of $387.14 million. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. Equities research analysts expect that Hafnia Limited will post 1.59 EPS for the current fiscal year.

Hafnia Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a dividend of $0.4049 per share. This is a positive change from Hafnia’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.62 annualized dividend and a dividend yield of 29.94%. Hafnia’s dividend payout ratio is presently 103.19%.

Institutional Investors Weigh In On Hafnia

A number of hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in shares of Hafnia during the second quarter valued at about $107,651,000. Hsbc Holdings PLC bought a new stake in Hafnia in the 2nd quarter valued at about $24,514,000. DekaBank Deutsche Girozentrale acquired a new position in Hafnia during the 2nd quarter worth approximately $23,646,000. Bank of Montreal Can bought a new position in Hafnia in the third quarter worth approximately $3,774,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Hafnia in the second quarter valued at approximately $4,327,000.

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.