Hafnia (NYSE:HAFN) Sees Large Volume Increase – Should You Buy?

Hafnia Limited (NYSE:HAFN) shares saw an uptick in trading volume on Wednesday . 1,172,531 shares traded hands during trading, an increase of 98% from the previous session’s volume of 590,947 shares.The stock last traded at $5.24 and had previously closed at $5.17.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reduced their price target on Hafnia from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday.

Hafnia Trading Up 3.4 %

The company has a market capitalization of $2.74 billion and a price-to-earnings ratio of 3.45. The firm has a fifty day moving average price of $6.74 and a 200-day moving average price of $7.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.49.

Hafnia (NYSE:HAFN) last released its earnings results on Friday, August 23rd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.42 by $0.09. The firm had revenue of $417.36 million for the quarter, compared to analyst estimates of $387.14 million. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. As a group, equities analysts anticipate that Hafnia Limited will post 1.59 EPS for the current year.

Hafnia Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a dividend of $0.4049 per share. This is an increase from Hafnia’s previous quarterly dividend of $0.34. This represents a $1.62 annualized dividend and a dividend yield of 29.94%. The ex-dividend date was Tuesday, September 3rd. Hafnia’s dividend payout ratio is currently 103.19%.

Institutional Investors Weigh In On Hafnia

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mondrian Investment Partners LTD bought a new position in Hafnia in the second quarter valued at about $43,000. Allspring Global Investments Holdings LLC acquired a new stake in Hafnia during the 2nd quarter worth approximately $60,000. Prudential PLC bought a new stake in Hafnia during the 2nd quarter worth approximately $100,000. Infrastructure Capital Advisors LLC bought a new stake in Hafnia during the 3rd quarter worth approximately $119,000. Finally, TD Asset Management Inc acquired a new position in Hafnia in the 2nd quarter valued at approximately $148,000.

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.