Hafnia (NYSE:HAFN) Shares Gap Down - Time to Sell?

Hafnia Limited (NYSE:HAFN - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $4.93, but opened at $4.35. Hafnia shares last traded at $4.37, with a volume of 3,028,330 shares.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reduced their price objective on shares of 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 stock has a market cap of $2.03 billion and a P/E ratio of 2.36. 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 business's fifty day moving average price is $5.31 and its 200 day moving average price is $6.09.

Hafnia Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Friday, March 7th will be issued a $0.0294 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.93%. Hafnia's dividend payout ratio (DPR) is currently 7.28%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Hafnia by 11.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 33,126 shares of the company's stock worth $178,000 after acquiring an additional 3,387 shares during the last quarter. Swiss National Bank raised its holdings in Hafnia by 0.6% in the 4th quarter. Swiss National Bank now owns 555,852 shares of the company's stock valued at $2,975,000 after buying an additional 3,578 shares during the last quarter. WealthCollab LLC bought a new position in Hafnia in the 4th quarter valued at approximately $28,000. Sigma Planning Corp raised its holdings in Hafnia by 30.8% in the 4th quarter. Sigma Planning Corp now owns 36,950 shares of the company's stock valued at $206,000 after buying an additional 8,700 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Hafnia by 53.6% in the 4th quarter. Quantinno Capital Management LP now owns 27,565 shares of the company's stock valued at $154,000 after buying an additional 9,615 shares during the last quarter.

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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.