Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume – Time to Buy?

Hafnia Limited (NYSE:HAFN) shares saw an uptick in trading volume on Tuesday . 1,850,982 shares were traded during trading, a decline of 30% from the previous session’s volume of 2,659,699 shares.The stock last traded at $5.11 and had previously closed at $5.43.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group decreased their price objective on shares of Hafnia from $8.00 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday, December 17th.

Hafnia Price Performance

The company has a market capitalization of $2.60 billion and a price-to-earnings ratio of 3.01. The company’s 50 day simple moving average is $5.52 and its 200-day simple moving average is $6.65. The company has a current ratio of 1.70, a quick ratio of 1.52 and a debt-to-equity ratio of 0.34.

Hafnia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, December 6th were issued a $0.379 dividend. This represents a $1.52 annualized dividend and a yield of 29.58%. The ex-dividend date was Friday, December 6th. Hafnia’s dividend payout ratio (DPR) is 89.41%.

Institutional Trading of Hafnia

A number of institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in shares of Hafnia in the second quarter valued at about $183,000. Canada Pension Plan Investment Board purchased a new position in shares of Hafnia in the second quarter valued at $860,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in Hafnia during the 2nd quarter worth $4,327,000. Marshall Wace LLP acquired a new position in Hafnia in the 2nd quarter worth $1,025,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Hafnia in the 2nd quarter valued at about $246,000.

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.