Hafnia (NYSE:HAFN) Shares Gap Down – Should You Sell?

Hafnia Limited (NYSE:HAFN)’s share price gapped down prior to trading on Monday . The stock had previously closed at $10.12, but opened at $9.75. Hafnia shares last traded at $10.0550, with a volume of 396,100 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen raised Hafnia from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 30th. BTIG Research raised their price objective on Hafnia from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday. Pareto Securities downgraded Hafnia to a “hold” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised Hafnia from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Hafnia Stock Down 2.9%

The company has a market cap of $5.04 billion, a PE ratio of 7.45 and a beta of 0.65. The firm has a 50-day simple moving average of $8.13 and a two-hundred day simple moving average of $7.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.49.

Hafnia (NYSE:HAFN) last posted its quarterly earnings data on Saturday, August 29th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. The business had revenue of $834.53 million for the quarter, compared to analyst estimates of $394.57 million. Hafnia had a return on equity of 26.74% and a net margin of 56.72%.

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 8th were paid a dividend of $0.5003 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This is a positive change from Hafnia’s previous quarterly dividend of $0.29. This represents a $2.00 annualized dividend and a dividend yield of 20.4%. Hafnia’s payout ratio is currently 151.52%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. MHR Fund Management LLC grew its position in shares of Hafnia by 7.6% in the fourth quarter. MHR Fund Management LLC now owns 18,496,652 shares of the company’s stock valued at $98,587,000 after purchasing an additional 1,309,938 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Hafnia by 0.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,797,281 shares of the company’s stock valued at $82,532,000 after buying an additional 54,525 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Hafnia during the 1st quarter valued at about $32,205,000. Bank of New York Mellon Corp lifted its holdings in shares of Hafnia by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,681,217 shares of the company’s stock worth $12,777,000 after acquiring an additional 22,351 shares during the period. Finally, Corigliano Investment Advisers LLC boosted its position in shares of Hafnia by 98.5% in the fourth quarter. Corigliano Investment Advisers LLC now owns 663,093 shares of the company’s stock worth $3,534,000 after acquiring an additional 329,093 shares during the last quarter.

About Hafnia

Hafnia Limited is a global maritime transportation company focused on the ownership and operation of product tankers. The company transports refined petroleum products, chemicals, and vegetable and animal oils for energy companies, commodity traders, and industrial customers.

Its activities include commercial management, chartering, vessel operations, and technical management. Hafnia operates across major international shipping routes and serves customers in key energy and commodity markets worldwide.

Hafnia is headquartered in Singapore and is part of the BW Group.