Hafnia (NYSE:HAFN) Shares Gap Up – Here’s What Happened

Hafnia Limited (NYSE:HAFN) gapped up before the market opened on Thursday . The stock had previously closed at $5.03, but opened at $5.15. Hafnia shares last traded at $5.24, with a volume of 2,747,650 shares.

Analysts Set New Price Targets

Separately, Jefferies Financial Group dropped their price objective on Hafnia from $8.00 to $6.50 and set a “buy” rating on the stock in a report on Tuesday, December 17th.

Hafnia Price Performance

The stock’s 50-day moving average is $5.50 and its 200 day moving average is $6.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70. The stock has a market capitalization of $2.59 billion and a PE ratio of 3.01.

Hafnia (NYSE:HAFN) last issued its quarterly earnings data on Wednesday, November 27th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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%.

Hafnia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, December 6th were given a dividend of $0.379 per share. This represents a $1.52 annualized dividend and a yield of 29.64%. The ex-dividend date of this dividend was Friday, December 6th. Hafnia’s dividend payout ratio (DPR) is 89.41%.

Institutional Investors Weigh In On Hafnia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its holdings in shares of Hafnia by 10.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock valued at $21,350,000 after acquiring an additional 290,000 shares during the period. Mirabella Financial Services LLP purchased a new position in Hafnia during the 3rd quarter worth $3,175,000. Marshall Wace LLP acquired a new position in Hafnia in the second quarter valued at $1,025,000. Bank of Montreal Can acquired a new position in Hafnia in the third quarter valued at $3,774,000. Finally, Jane Street Group LLC raised its holdings in shares of Hafnia by 671.7% in the third quarter. Jane Street Group LLC now owns 257,427 shares of the company’s stock valued at $1,833,000 after buying an additional 224,070 shares during the last quarter.

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.