Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume – Still a Buy?

Hafnia Limited (NYSE:HAFN) saw an uptick in trading volume on Tuesday . 1,219,103 shares changed hands during trading, an increase of 41% from the previous session’s volume of 863,324 shares.The stock last traded at $5.53 and had previously closed at $5.29.

Analyst Upgrades and Downgrades

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

Hafnia Stock Performance

The company’s fifty day moving average is $5.65 and its 200 day moving average is $6.97. The company has a current ratio of 1.70, a quick ratio of 1.52 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.84 billion and a P/E ratio of 3.30.

Hafnia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th were given a $0.379 dividend. This represents a $1.52 annualized dividend and a dividend yield of 27.02%. The ex-dividend date was Friday, December 6th. Hafnia’s dividend payout ratio (DPR) is presently 88.82%.

Institutional Investors Weigh In On Hafnia

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mondrian Investment Partners LTD purchased a new stake in shares of Hafnia in the 2nd quarter valued at about $43,000. Allspring Global Investments Holdings LLC bought a new stake in Hafnia in the second quarter valued at approximately $60,000. Prudential PLC purchased a new stake in Hafnia during the 2nd quarter valued at $100,000. Infrastructure Capital Advisors LLC purchased a new position in shares of Hafnia in the third quarter valued at about $119,000. Finally, DGS Capital Management LLC bought a new position in Hafnia during the 3rd quarter valued at approximately $121,000.

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.