Hafnia (NYSE:HAFN) Hits New 12-Month Low – Here’s Why

Hafnia Limited (NYSE:HAFN) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $5.66 and last traded at $5.70, with a volume of 183385 shares. The stock had previously closed at $5.78.

Hafnia Stock Performance

The business has a 50-day moving average price of $7.13 and a 200-day moving average price of $7.68. The company has a quick ratio of 1.33, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.88 billion and a price-to-earnings ratio of 3.68.

Hafnia (NYSE:HAFN) last announced its earnings results on Friday, August 23rd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.09. Hafnia had a return on equity of 34.28% and a net margin of 47.30%. The firm had revenue of $417.36 million for the quarter, compared to the consensus estimate of $387.14 million. As a group, sell-side analysts forecast that Hafnia Limited will post 1.59 earnings per share for the current year.

Hafnia Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a $0.4049 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.62 dividend on an annualized basis and a dividend yield of 28.51%. This is a boost from Hafnia’s previous quarterly dividend of $0.34. Hafnia’s dividend payout ratio (DPR) is currently 103.19%.

Hedge Funds Weigh In On Hafnia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sigma Planning Corp purchased a new position in Hafnia during the 3rd quarter worth approximately $202,000. DekaBank Deutsche Girozentrale increased its stake in shares of Hafnia by 10.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock worth $21,350,000 after acquiring an additional 290,000 shares during the period. U S Global Investors Inc. purchased a new position in shares of Hafnia during the third quarter worth $333,000. Allspring Global Investments Holdings LLC lifted its position in Hafnia by 654.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 54,143 shares of the company’s stock valued at $386,000 after purchasing an additional 46,963 shares during the period. Finally, Glenorchy Capital Ltd purchased a new stake in Hafnia in the third quarter valued at $726,000.

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.