Hafnia (NYSE:HAFN) Announces Quarterly Earnings Results

Hafnia (NYSE:HAFN) released its quarterly earnings data on Monday. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02, Zacks reports. Hafnia had a net margin of 37.26% and a return on equity of 18.74%. The business had revenue of $247.00 million during the quarter, compared to the consensus estimate of $256.84 million.

Hafnia Trading Down 1.8%

Shares of NYSE:HAFN traded down $0.11 during trading on Monday, reaching $5.89. The company’s stock had a trading volume of 530,661 shares, compared to its average volume of 1,785,671. The stock has a market capitalization of $2.98 billion, a PE ratio of 6.92 and a beta of 0.92. Hafnia has a 12 month low of $3.61 and a 12 month high of $6.64. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 0.27. The firm’s 50 day simple moving average is $6.15 and its two-hundred day simple moving average is $5.75.

Institutional Investors Weigh In On Hafnia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Hafnia by 0.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 10,742,756 shares of the company’s stock worth $64,522,000 after purchasing an additional 54,905 shares during the period. Jane Street Group LLC lifted its position in Hafnia by 241.6% in the first quarter. Jane Street Group LLC now owns 815,341 shares of the company’s stock worth $3,392,000 after buying an additional 576,629 shares during the last quarter. Legal & General Group Plc lifted its position in Hafnia by 10.7% in the third quarter. Legal & General Group Plc now owns 809,915 shares of the company’s stock worth $4,879,000 after buying an additional 78,264 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Hafnia by 9.8% during the second quarter. Canada Pension Plan Investment Board now owns 677,261 shares of the company’s stock worth $3,403,000 after buying an additional 60,210 shares during the period. Finally, Millennium Management LLC increased its position in Hafnia by 5,973.8% during the third quarter. Millennium Management LLC now owns 636,900 shares of the company’s stock valued at $3,815,000 after acquiring an additional 626,414 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HAFN shares. Fearnley Fonds downgraded Hafnia from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hafnia in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Hafnia has a consensus rating of “Hold” and a consensus price target of $6.50.

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.