Hafnia (NYSE:HAFN) Sees Strong Trading Volume – Time to Buy?

Hafnia Limited (NYSE:HAFN) shares saw an uptick in trading volume on Wednesday . 474,728 shares changed hands during trading, a decline of 40% from the previous session’s volume of 790,651 shares.The stock last traded at $5.44 and had previously closed at $5.46.

Wall Street Analysts Forecast Growth

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

Hafnia Price Performance

The company’s 50 day simple moving average is $6.06 and its 200 day simple moving average is $7.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.52. The stock has a market cap of $2.74 billion and a P/E ratio of 3.21.

Hafnia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, December 6th will be paid a dividend of $0.379 per share. This represents a $1.52 annualized dividend and a yield of 28.07%. The ex-dividend date is Friday, December 6th. Hafnia’s payout ratio is presently 88.82%.

Institutional Trading of Hafnia

Large investors have recently bought and sold shares of the business. Mondrian Investment Partners LTD acquired a new position in shares of Hafnia in the second quarter valued at approximately $43,000. Allspring Global Investments Holdings LLC bought a new position in Hafnia in the second quarter valued at $60,000. Prudential PLC acquired a new stake in shares of Hafnia in the second quarter valued at about $100,000. Infrastructure Capital Advisors LLC acquired a new stake in shares of Hafnia in the 3rd quarter valued at approximately $119,000. Finally, DGS Capital Management LLC bought a new position in shares of Hafnia in the 3rd quarter valued at about $121,000.

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.