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

Hafnia Limited (NYSE:HAFN)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $7.39, but opened at $7.09. Hafnia shares last traded at $7.14, with a volume of 622,461 shares.

Hafnia Trading Down 3.8 %

The stock has a 50 day moving average price of $7.52. The firm has a market cap of $3.60 billion and a price-to-earnings ratio of 4.71. The company has a current ratio of 1.49, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33.

Hafnia (NYSE:HAFN) last issued its quarterly earnings results on Friday, August 23rd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.09. The business had revenue of $417.36 million during the quarter, compared to analysts’ expectations of $387.14 million. Hafnia had a return on equity of 34.28% and a net margin of 47.30%. As a group, equities research analysts anticipate that Hafnia Limited will post 1.6 earnings per share for the current fiscal year.

Hafnia Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.4049 per share. This is a positive change from Hafnia’s previous quarterly dividend of $0.34. This represents a $1.62 annualized dividend and a dividend yield of 22.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. Hafnia’s dividend payout ratio is 103.19%.

Hedge Funds Weigh In On Hafnia

Hedge funds have recently bought and sold shares of the company. Mondrian Investment Partners LTD acquired a new stake in shares of Hafnia during the 2nd quarter worth approximately $43,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Hafnia during the 2nd quarter worth $60,000. Prudential PLC acquired a new position in shares of Hafnia during the 2nd quarter worth $100,000. TD Asset Management Inc bought a new stake in shares of Hafnia during the 2nd quarter worth $148,000. Finally, XTX Topco Ltd acquired a new stake in Hafnia in the second quarter valued at about $183,000.

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.