Hafnia (NYSE:HAFN) Hits New 52-Week Low After Analyst Downgrade

Shares of Hafnia Limited (NYSE:HAFN) reached a new 52-week low on Tuesday after Jefferies Financial Group lowered their price target on the stock from $8.00 to $6.50. Jefferies Financial Group currently has a buy rating on the stock. Hafnia traded as low as $5.06 and last traded at $5.06, with a volume of 233568 shares trading hands. The stock had previously closed at $5.25.

Hedge Funds Weigh In On Hafnia

Several hedge funds have recently added to or reduced their stakes in HAFN. Mondrian Investment Partners LTD bought 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 acquired a new stake in Hafnia in the second quarter worth $100,000. Infrastructure Capital Advisors LLC bought a new position in shares of Hafnia during the third quarter worth $119,000. Finally, DGS Capital Management LLC acquired a new position in shares of Hafnia in the 3rd quarter valued at $121,000.

Hafnia Stock Performance

The firm has a market cap of $2.64 billion and a P/E ratio of 3.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70. The stock’s 50-day moving average is $5.89 and its 200 day moving average is $7.10.

Hafnia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, December 6th were issued a $0.379 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.52 annualized dividend and a dividend yield of 29.07%. Hafnia’s dividend payout ratio (DPR) is currently 88.82%.

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.