Short Interest in Hafnia Limited (NYSE:HAFN) Declines By 48.1%

Hafnia Limited (NYSE:HAFN) saw a large drop in short interest in May. As of May 15th, there was short interest totaling 1,870,650 shares, a drop of 48.1% from the April 30th total of 3,601,587 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 1,219,927 shares, the days-to-cover ratio is currently 1.5 days.

Hafnia Stock Performance

HAFN stock traded up $0.02 during trading on Tuesday, reaching $7.80. 2,339,300 shares of the company’s stock were exchanged, compared to its average volume of 1,713,539. The company has a quick ratio of 1.48, a current ratio of 1.60 and a debt-to-equity ratio of 0.31. Hafnia has a 1-year low of $4.90 and a 1-year high of $9.53. The company’s fifty day moving average price is $8.27 and its 200-day moving average price is $6.95. The firm has a market cap of $4.00 billion, a PE ratio of 8.57 and a beta of 0.64.

Hafnia (NYSE:HAFN) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. Hafnia had a return on equity of 19.20% and a net margin of 44.74%.The company had revenue of $688.87 million during the quarter, compared to analyst estimates of $298.65 million.

Hafnia Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.2877 per share. This is a boost from Hafnia’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, June 4th. This represents a $1.15 dividend on an annualized basis and a yield of 14.8%. Hafnia’s payout ratio is presently 76.92%.

Insider Activity at Hafnia

In other news, CFO Echtelt Petrus Wouter Van sold 90,000 shares of Hafnia stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $8.22, for a total value of $739,800.00. Following the completion of the transaction, the chief financial officer owned 91,994 shares in the company, valued at approximately $756,190.68. This trade represents a 49.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mikael Opstun Skov sold 500,000 shares of Hafnia stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $8.11, for a total value of $4,055,000.00. Following the completion of the transaction, the chief executive officer owned 1,130,978 shares of the company’s stock, valued at approximately $9,172,231.58. The trade was a 30.66% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,090,000 shares of company stock valued at $8,854,800.

Institutional Trading of Hafnia

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. acquired a new position in shares of Hafnia during the first quarter valued at approximately $48,000. Kestra Advisory Services LLC acquired a new position in shares of Hafnia during the fourth quarter valued at approximately $36,000. Royal Bank of Canada increased its stake in shares of Hafnia by 504.8% during the fourth quarter. Royal Bank of Canada now owns 7,185 shares of the company’s stock valued at $38,000 after acquiring an additional 5,997 shares during the period. Smartleaf Asset Management LLC acquired a new position in shares of Hafnia during the fourth quarter valued at approximately $47,000. Finally, GC Wealth Management RIA LLC acquired a new position in shares of Hafnia during the fourth quarter valued at approximately $53,000.

Wall Street Analyst Weigh In

HAFN has been the subject of several research reports. Pareto Securities lowered Hafnia to a “hold” rating in a research report on Wednesday, May 27th. Dnb Carnegie lowered Hafnia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Weiss Ratings restated a “hold (c)” rating on shares of Hafnia in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Hafnia from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Hafnia Company Profile

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.