Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume - Here's Why

Hafnia Limited (NYSE:HAFN - Get Free Report) shares saw an uptick in trading volume on Wednesday . 564,469 shares changed hands during mid-day trading, a decline of 33% from the previous session's volume of 836,787 shares.The stock last traded at $5.22 and had previously closed at $5.22.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut their price target on shares of Hafnia from $8.00 to $6.50 and set a "buy" rating on the stock in a report on Tuesday.

Hafnia Stock Down 1.3 %

The stock has a 50-day moving average price of $5.85 and a 200-day moving average price of $7.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.52. The company has a market capitalization of $2.61 billion and a P/E ratio of 3.03.

Hafnia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th were given a $0.379 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 29.44%. Hafnia's dividend payout ratio (DPR) is currently 88.82%.

Institutional Investors Weigh In On Hafnia

Several large investors have recently modified their holdings of the company. DGS Capital Management LLC bought a new stake in Hafnia during the third quarter valued at $121,000. Tidal Investments LLC bought a new stake in shares of Hafnia during the 3rd quarter valued at about $198,000. Barclays PLC boosted its position in shares of Hafnia by 72.7% during the 3rd quarter. Barclays PLC now owns 2,734,506 shares of the company's stock valued at $19,580,000 after purchasing an additional 1,151,528 shares in the last quarter. XTX Topco Ltd grew its stake in Hafnia by 625.6% during the third quarter. XTX Topco Ltd now owns 158,583 shares of the company's stock worth $1,135,000 after purchasing an additional 136,727 shares during the period. Finally, Jane Street Group LLC lifted its stake in Hafnia by 671.7% in the third quarter. Jane Street Group LLC now owns 257,427 shares of the company's stock valued at $1,833,000 after buying an additional 224,070 shares during the period.

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.