Hafnia (NYSE:HAFN) Reaches New 12-Month Low – Time to Sell?

Hafnia Limited (NYSE:HAFN) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $4.98 and last traded at $4.98, with a volume of 629832 shares trading hands. The stock had previously closed at $5.05.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reduced 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 Trading Down 1.7 %

The firm has a market cap of $2.48 billion and a price-to-earnings ratio of 2.88. The business has a fifty day moving average of $5.38 and a two-hundred day moving average of $6.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70.

Hafnia (NYSE:HAFN) last posted its earnings results on Wednesday, November 27th. The company reported $0.42 earnings per share 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%.

Hedge Funds Weigh In On Hafnia

Several hedge funds have recently added to or reduced their stakes in HAFN. Arrowstreet Capital Limited Partnership grew its position in shares of Hafnia by 125.0% in the fourth 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 last quarter. Marshall Wace LLP lifted its stake in 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 buying an additional 2,010,753 shares in the last quarter. Barclays PLC grew its holdings in Hafnia by 60.7% during the 4th quarter. Barclays PLC now owns 4,395,133 shares of the company’s stock valued at $24,481,000 after buying an additional 1,660,627 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Hafnia during the fourth quarter worth $4,376,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Hafnia in the fourth 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.