Hafnia Limited (NYSE:HAFN) Sees Significant Growth in Short Interest

Hafnia Limited (NYSE:HAFN) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 5,130,000 shares, a growth of 6.7% from the November 30th total of 4,810,000 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily trading volume, of 2,310,000 shares, the short-interest ratio is currently 2.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HAFN. Acadian Asset Management LLC acquired a new position in Hafnia during the second quarter worth $107,651,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Hafnia by 10.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock valued at $21,350,000 after acquiring an additional 290,000 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Hafnia in the 2nd quarter valued at approximately $24,514,000. Barclays PLC lifted its holdings in Hafnia by 72.7% in the 3rd quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock worth $19,580,000 after purchasing an additional 1,151,528 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Hafnia during the third quarter worth approximately $3,774,000.

Hafnia Trading Up 2.4 %

NYSE:HAFN opened at $5.57 on Thursday. The company has a market capitalization of $2.82 billion and a P/E ratio of 3.28. The stock’s 50 day moving average price is $5.53 and its 200 day moving average price is $6.87. 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 52 week low of $4.99 and a 52 week high of $8.99.

Hafnia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th were paid a dividend of $0.379 per share. The ex-dividend date was Friday, December 6th. This represents a $1.52 annualized dividend and a dividend yield of 27.22%. Hafnia’s dividend payout ratio (DPR) is 88.82%.

Analyst Upgrades and Downgrades

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

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.