Hafnia (NYSE:HAFN) Shares Down 2.4% - Should You Sell?

Shares of Hafnia Limited (NYSE:HAFN - Get Free Report) were down 2.4% during mid-day trading on Tuesday . The stock traded as low as $3.88 and last traded at $3.86. Approximately 210,030 shares changed hands during trading, a decline of 87% from the average daily volume of 1,666,090 shares. The stock had previously closed at $3.95.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reduced 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 Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70. The stock has a 50 day moving average of $4.51 and a 200 day moving average of $5.39. The stock has a market capitalization of $2.13 billion and a P/E ratio of 2.47.

Hafnia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, March 7th were issued a dividend of $0.0294 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.80%. Hafnia's dividend payout ratio (DPR) is presently 7.28%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HAFN. Arrowstreet Capital Limited Partnership lifted its holdings in Hafnia by 125.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,754,312 shares of the company's stock worth $64,223,000 after purchasing an additional 6,530,482 shares during the period. Vanguard Group Inc. lifted its stake in shares of Hafnia by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 11,113,978 shares of the company's stock worth $59,449,000 after acquiring an additional 190,352 shares during the period. Barclays PLC boosted its holdings in shares of Hafnia by 60.7% in the fourth quarter. Barclays PLC now owns 4,395,133 shares of the company's stock valued at $24,481,000 after acquiring an additional 1,660,627 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Hafnia by 1,775.4% during the fourth quarter. Marshall Wace LLP now owns 2,124,012 shares of the company's stock valued at $11,831,000 after acquiring an additional 2,010,753 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in Hafnia by 6.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,773,846 shares of the company's stock worth $9,488,000 after purchasing an additional 106,567 shares during the period.

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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.