Hafnia (NYSE:HAFN) Stock Price Down 4.3% – What’s Next?

Hafnia Limited (NYSE:HAFN) shares dropped 4.3% during mid-day trading on Monday . The stock traded as low as $6.14 and last traded at $6.1450. Approximately 454,810 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,791,001 shares. The stock had previously closed at $6.42.

Analyst Ratings Changes

HAFN has been the subject of a number of research reports. Fearnley Fonds downgraded Hafnia from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Hafnia in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Hafnia has an average rating of “Hold” and an average price target of $6.50.

Hafnia Price Performance

The firm has a market cap of $3.13 billion, a P/E ratio of 7.28 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.21 and a quick ratio of 1.09. The company’s 50-day moving average is $6.18 and its two-hundred day moving average is $5.72.

Hafnia (NYSE:HAFN) last issued its earnings results on Wednesday, August 27th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $346.56 million during the quarter, compared to analysts’ expectations of $249.42 million. Hafnia had a net margin of 37.26% and a return on equity of 18.74%.

Hafnia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.121 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 7.8%. Hafnia’s payout ratio is 56.47%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. lifted its stake in Hafnia by 53.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 5,129 shares of the company’s stock valued at $26,000 after purchasing an additional 1,796 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Hafnia during the 1st quarter valued at $47,000. Sierra Capital LLC bought a new stake in Hafnia during the 2nd quarter worth $50,000. J.W. Cole Advisors Inc. acquired a new position in Hafnia in the 2nd quarter worth about $55,000. Finally, State of Wyoming bought a new position in Hafnia in the second quarter valued at about $57,000.

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.