Hafnia (NYSE:HAFN) Shares Gap Up – Time to Buy?

Hafnia Limited (NYSE:HAFN) gapped up before the market opened on Thursday . The stock had previously closed at $5.03, but opened at $5.15. Hafnia shares last traded at $5.24, with a volume of 2,747,650 shares.

Analyst Ratings Changes

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

Hafnia Trading Down 3.1 %

The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $5.50 and a 200-day simple moving average of $6.59. The company has a market cap of $2.59 billion and a PE ratio of 3.01.

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

Hafnia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th were given a dividend of $0.379 per share. The ex-dividend date was Friday, December 6th. This represents a $1.52 annualized dividend and a dividend yield of 29.64%. Hafnia’s dividend payout ratio is presently 89.41%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HAFN. DekaBank Deutsche Girozentrale raised its position in Hafnia by 10.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock valued at $21,350,000 after purchasing an additional 290,000 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of Hafnia during the third quarter worth approximately $3,175,000. Marshall Wace LLP acquired a new stake in Hafnia in the second quarter valued at approximately $1,025,000. Bank of Montreal Can purchased a new position in Hafnia in the third quarter worth approximately $3,774,000. Finally, Jane Street Group LLC grew its holdings in Hafnia by 671.7% during the 3rd quarter. Jane Street Group LLC now owns 257,427 shares of the company’s stock worth $1,833,000 after acquiring an additional 224,070 shares in the last quarter.

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.