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

Shares of Hafnia Limited (NYSE:HAFN) gapped down prior to trading on Friday . The stock had previously closed at $5.50, but opened at $5.39. Hafnia shares last traded at $5.41, with a volume of 484,988 shares trading hands.

Wall Street Analyst Weigh In

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 research report on Tuesday, December 17th.

Hafnia Stock Performance

The stock has a market cap of $2.75 billion and a price-to-earnings ratio of 3.19. 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 fifty day moving average of $5.61 and a 200 day moving average of $6.95.

Hafnia Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, December 6th were paid a $0.379 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 27.97%. The ex-dividend date of this dividend was Friday, December 6th. Hafnia’s dividend payout ratio (DPR) is presently 88.82%.

Institutional Investors Weigh In On Hafnia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mondrian Investment Partners LTD purchased a new stake in Hafnia in the 2nd quarter valued at about $43,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Hafnia in the 2nd quarter valued at approximately $60,000. Prudential PLC purchased a new stake in shares of Hafnia in the 2nd quarter valued at approximately $100,000. Infrastructure Capital Advisors LLC acquired a new position in shares of Hafnia in the 3rd quarter worth approximately $119,000. Finally, DGS Capital Management LLC purchased a new position in shares of Hafnia during the 3rd quarter worth approximately $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.