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

Hafnia Limited (NYSE:HAFN) shares gapped down prior to trading on Friday . The stock had previously closed at $5.73, but opened at $5.46. Hafnia shares last traded at $5.52, with a volume of 1,306,225 shares.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lowered their price target 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 Price Performance

The firm’s fifty day moving average price is $5.51 and its 200-day moving average price is $6.71. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.80 billion and a P/E ratio of 3.24.

Hafnia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th were paid a dividend of $0.379 per share. This represents a $1.52 annualized dividend and a dividend yield of 27.49%. The ex-dividend date of this dividend was Friday, December 6th. Hafnia’s dividend payout ratio (DPR) is 89.41%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Clear Harbor Asset Management LLC purchased a new position in shares of Hafnia during the fourth quarter valued at approximately $92,000. Infrastructure Capital Advisors LLC purchased a new stake in shares of Hafnia in the 3rd quarter worth about $119,000. DGS Capital Management LLC purchased a new position in shares of Hafnia during the third quarter valued at about $121,000. Quantinno Capital Management LP purchased a new stake in Hafnia in the third quarter worth about $128,000. Finally, Syquant Capital Sas bought a new stake in Hafnia during the 4th quarter valued at approximately $165,000.

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.