Hafnia (NYSE:HAFN) Shares Down 3.3% – Should You Sell?

Hafnia Limited (NYSE:HAFN) was down 3.3% during mid-day trading on Friday . The company traded as low as $5.12 and last traded at $5.11. Approximately 1,277,156 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 3,301,465 shares. The stock had previously closed at $5.28.

Wall Street Analysts Forecast Growth

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

Hafnia Trading Down 3.1 %

The business has a 50-day moving average of $5.50 and a 200-day moving average of $6.58. 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 firm has a market cap of $2.59 billion and a price-to-earnings ratio of 3.01.

Hafnia (NYSE:HAFN) last announced its quarterly earnings data on Wednesday, November 27th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Shareholders of record on Friday, December 6th were given a dividend of $0.379 per share. This represents a $1.52 dividend on an annualized basis and a yield of 29.64%. The ex-dividend date was Friday, December 6th. Hafnia’s dividend payout ratio (DPR) is presently 89.41%.

Institutional Trading of Hafnia

Hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in Hafnia in the 2nd quarter valued at $183,000. Canada Pension Plan Investment Board bought a new position in shares of Hafnia in the second quarter valued at about $860,000. Marshall Wace LLP acquired a new stake in shares of Hafnia during the 2nd quarter worth about $1,025,000. The Manufacturers Life Insurance Company bought a new stake in shares of Hafnia during the 2nd quarter worth about $246,000. Finally, Mackenzie Financial Corp acquired a new position in Hafnia in the 2nd quarter valued at about $1,784,000.

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.