Hafnia (NYSE:HAFN) Stock Price Down 2.4% – Here’s Why

Hafnia Limited (NYSE:HAFN) traded down 2.4% during mid-day trading on Tuesday . The stock traded as low as $3.88 and last traded at $3.86. 210,030 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,666,090 shares. The stock had previously closed at $3.95.

Analyst Ratings Changes

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

Hafnia Price Performance

The firm has a fifty day moving average of $4.66 and a 200 day moving average of $5.50. 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 $1.95 billion and a P/E ratio of 2.27.

Hafnia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, March 7th were issued 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 3.05%. Hafnia’s payout ratio is 7.28%.

Institutional Investors Weigh In On Hafnia

A number of hedge funds have recently added to or reduced their stakes in HAFN. Wellington Management Group LLP purchased a new position in shares of Hafnia in the 4th quarter worth $668,000. Bernard Wealth Management Corp. bought a new stake in shares of Hafnia during the 4th quarter valued at about $58,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Hafnia during the 4th quarter valued at about $4,376,000. Vise Technologies Inc. bought a new position in shares of Hafnia in the 4th quarter worth approximately $71,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Hafnia by 36.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 236,711 shares of the company’s stock worth $1,318,000 after purchasing an additional 62,701 shares during the period.

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.