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

Hafnia Limited (NYSE:HAFN) gapped down before the market opened on Thursday . The stock had previously closed at $4.93, but opened at $4.35. Hafnia shares last traded at $4.37, with a volume of 3,028,330 shares trading hands.

Analyst Ratings Changes

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

Hafnia Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70. The firm’s 50 day simple moving average is $5.34 and its 200 day simple moving average is $6.14. The firm has a market capitalization of $2.06 billion and a price-to-earnings ratio of 2.39.

Hafnia (NYSE:HAFN) last posted its earnings results 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 net margin of 53.44% and a return on equity of 36.90%.

Hafnia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, March 7th will be paid a $0.0294 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, March 7th. Hafnia’s dividend payout ratio is currently 7.28%.

Hedge Funds Weigh In On Hafnia

Several large investors have recently made changes to their positions in HAFN. Arrowstreet Capital Limited Partnership lifted its stake in shares of Hafnia by 125.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,754,312 shares of the company’s stock valued at $64,223,000 after purchasing an additional 6,530,482 shares during the period. Marshall Wace LLP lifted its stake in shares of Hafnia by 1,775.4% in the 4th quarter. Marshall Wace LLP now owns 2,124,012 shares of the company’s stock valued at $11,831,000 after purchasing an additional 2,010,753 shares during the period. Barclays PLC lifted its stake in shares of Hafnia by 60.7% in the 4th quarter. Barclays PLC now owns 4,395,133 shares of the company’s stock valued at $24,481,000 after purchasing an additional 1,660,627 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Hafnia in the 4th quarter worth $4,376,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Hafnia in the 4th quarter worth $3,123,000.

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.