Hafnia (NYSE:HAFN) Reaches New 1-Year Low on Analyst Downgrade

Hafnia Limited (NYSE:HAFN) shares hit a new 52-week low on Tuesday after Jefferies Financial Group lowered their price target on the stock from $8.00 to $6.50. Jefferies Financial Group currently has a buy rating on the stock. Hafnia traded as low as $5.06 and last traded at $5.06, with a volume of 233568 shares changing hands. The stock had previously closed at $5.25.

Institutional Investors Weigh In On Hafnia

A number of institutional investors have recently modified their holdings of the stock. Mondrian Investment Partners LTD acquired a new position in Hafnia in the 2nd quarter worth about $43,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Hafnia in the 2nd quarter valued at approximately $60,000. Prudential PLC bought 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 Hafnia in the third quarter worth approximately $119,000. Finally, DGS Capital Management LLC bought a new position in Hafnia during the third quarter valued at approximately $121,000.

Hafnia Price Performance

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 stock has a market capitalization of $2.61 billion and a price-to-earnings ratio of 3.03. The stock’s 50 day simple moving average is $5.80 and its 200-day simple moving average is $7.06.

Hafnia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, December 6th were issued a $0.379 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 29.44%. The ex-dividend date was Friday, December 6th. Hafnia’s dividend payout ratio is presently 88.82%.

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.