Hafnia (NYSE:HAFN) Stock Price Down 3% – What’s Next?

Shares of Hafnia Limited (NYSE:HAFN) traded down 3% during mid-day trading on Friday . The stock traded as low as $5.55 and last traded at $5.55. 417,622 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,172,566 shares. The stock had previously closed at $5.72.

Wall Street Analysts Forecast Growth

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

Hafnia Stock Down 3.0 %

The company’s 50 day simple moving average is $5.50 and its 200-day simple moving average is $6.85. 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 firm has a market cap of $2.81 billion and a P/E ratio of 3.26.

Hafnia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, December 6th were given a dividend of $0.379 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 27.32%. Hafnia’s dividend payout ratio (DPR) is 89.41%.

Institutional Investors Weigh In On Hafnia

A number of large investors have recently added to or reduced their stakes in the stock. DGS Capital Management LLC purchased a new position in Hafnia in the third quarter worth about $121,000. Tidal Investments LLC purchased a new position in shares of Hafnia in the third quarter worth approximately $198,000. Barclays PLC grew its position in Hafnia by 72.7% during the third quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock valued at $19,580,000 after buying an additional 1,151,528 shares during the period. XTX Topco Ltd grew its position in Hafnia by 625.6% during the third quarter. XTX Topco Ltd now owns 158,583 shares of the company’s stock valued at $1,135,000 after buying an additional 136,727 shares during the period. Finally, Jane Street Group LLC increased its holdings in Hafnia by 671.7% during the third quarter. Jane Street Group LLC now owns 257,427 shares of the company’s stock valued at $1,833,000 after buying an additional 224,070 shares during the last quarter.

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.