Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume - What's Next?

Hafnia Limited (NYSE:HAFN - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 1,219,103 shares changed hands during trading, an increase of 41% from the previous session's volume of 863,324 shares.The stock last traded at $5.53 and had previously closed at $5.29.

Analysts Set New Price Targets

Separately, Jefferies Financial Group cut their target price on Hafnia from $8.00 to $6.50 and set a "buy" rating on the stock in a research note on Tuesday, December 17th.

Hafnia Price Performance

The firm's fifty day simple moving average is $5.68 and its 200-day simple moving average is $6.98. The firm has a market capitalization of $2.84 billion and a PE ratio of 3.30. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.

Hafnia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, December 6th were issued a $0.379 dividend. 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 27.02%. Hafnia's payout ratio is currently 88.82%.

Institutional Trading of Hafnia

Institutional investors have recently added to or reduced their stakes in the business. Mondrian Investment Partners LTD bought a new stake in shares of Hafnia in the second quarter worth approximately $43,000. Allspring Global Investments Holdings LLC purchased a new stake in Hafnia in the second quarter worth approximately $60,000. Prudential PLC bought a new stake in Hafnia in the 2nd quarter worth approximately $100,000. Infrastructure Capital Advisors LLC purchased a new stake in Hafnia during the 3rd quarter valued at $119,000. Finally, DGS Capital Management LLC bought a new position in shares of Hafnia during the 3rd quarter valued at $121,000.

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.