Hafnia (NYSE:HAFN) Sees Large Volume Increase - Still a Buy?

Hafnia Limited (NYSE:HAFN - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 387,263 shares changed hands during mid-day trading, a decline of 37% from the previous session's volume of 616,606 shares.The stock last traded at $5.52 and had previously closed at $5.39.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group dropped their price target on shares of Hafnia from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th.

Hafnia Stock Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.49. The company has a 50 day moving average price of $6.64 and a 200 day moving average price of $7.51. The company has a market capitalization of $2.82 billion and a PE ratio of 3.52.

Hafnia (NYSE:HAFN - Get Free Report) last released its earnings results on Friday, August 23rd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.09. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. The company had revenue of $417.36 million during the quarter, compared to the consensus estimate of $387.14 million. Equities analysts forecast that Hafnia Limited will post 1.44 EPS for the current year.

Hafnia Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a dividend of $0.4049 per share. This is a positive change from Hafnia's previous quarterly dividend of $0.34. This represents a $1.62 annualized dividend and a dividend yield of 29.13%. The ex-dividend date of this dividend was Tuesday, September 3rd. Hafnia's dividend payout ratio is currently 103.19%.

Hedge Funds Weigh In On Hafnia

A number of hedge funds have recently added to or reduced their stakes in HAFN. DekaBank Deutsche Girozentrale lifted its position in shares of Hafnia by 10.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company's stock worth $21,350,000 after buying an additional 290,000 shares during the last quarter. Marshall Wace LLP acquired a new stake in Hafnia during the second quarter worth about $1,025,000. Glenorchy Capital Ltd bought a new position in Hafnia in the third quarter worth about $726,000. Acadian Asset Management LLC acquired a new position in Hafnia in the second quarter valued at approximately $107,651,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Hafnia during the 2nd quarter worth approximately $4,327,000.

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.

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