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

Hafnia Limited (NYSE:HAFN - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $5.73, but opened at $5.46. Hafnia shares last traded at $5.52, with a volume of 1,306,225 shares traded.

Analysts Set New Price Targets

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

Hafnia Trading Down 3.8 %

The firm's 50 day moving average is $5.51 and its 200 day moving average is $6.71. 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 cap of $2.80 billion and a PE ratio of 3.24.

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 dividend of $0.379 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 27.49%. Hafnia's dividend payout ratio (DPR) is currently 89.41%.

Hedge Funds Weigh In On Hafnia

A number of institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC bought a new position in shares of Hafnia in the second quarter worth approximately $24,514,000. XTX Topco Ltd bought a new position in shares of Hafnia in the 2nd quarter worth $183,000. Canada Pension Plan Investment Board purchased a new stake in shares of Hafnia during the 2nd quarter valued at $860,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Hafnia during the 2nd quarter worth $4,327,000. Finally, Marshall Wace LLP bought a new position in Hafnia in the second quarter valued at $1,025,000.

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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