Hafnia Limited (NYSE:HAFN) Sees Large Increase in Short Interest

Hafnia Limited (NYSE:HAFN) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 4,790,000 shares, an increase of 16.0% from the February 13th total of 4,130,000 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily volume of 3,290,000 shares, the short-interest ratio is presently 1.5 days.

Hafnia Trading Down 0.8 %

Hafnia stock traded down $0.04 during trading hours on Thursday, hitting $4.54. The company had a trading volume of 1,063,533 shares, compared to its average volume of 1,631,771. The firm has a market cap of $2.30 billion and a P/E ratio of 2.67. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70. Hafnia has a 1 year low of $3.91 and a 1 year high of $8.99. The company has a 50-day moving average price of $5.01 and a two-hundred day moving average price of $5.80.

Hafnia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, March 7th were paid a dividend of $0.0294 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.12 annualized dividend and a dividend yield of 2.59%. Hafnia’s dividend payout ratio (DPR) is presently 7.28%.

Institutional Trading of Hafnia

Several large investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its holdings in Hafnia by 125.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,754,312 shares of the company’s stock worth $64,223,000 after buying an additional 6,530,482 shares in the last quarter. Vanguard Group Inc. raised its position in Hafnia by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 11,113,978 shares of the company’s stock worth $59,449,000 after acquiring an additional 190,352 shares during the period. Barclays PLC raised its position in Hafnia by 60.7% during the fourth quarter. Barclays PLC now owns 4,395,133 shares of the company’s stock worth $24,481,000 after acquiring an additional 1,660,627 shares during the period. Marshall Wace LLP raised its position in Hafnia by 1,775.4% during the fourth quarter. Marshall Wace LLP now owns 2,124,012 shares of the company’s stock worth $11,831,000 after acquiring an additional 2,010,753 shares during the period. Finally, Nuveen Asset Management LLC raised its position in Hafnia by 6.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,773,846 shares of the company’s stock worth $9,488,000 after acquiring an additional 106,567 shares during the period.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group dropped 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.

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.