Hafnia (NYSE:HAFN) Trading 3.8% Higher - Time to Buy?

Hafnia Limited (NYSE:HAFN - Get Free Report)'s stock price traded up 3.8% during mid-day trading on Monday . The stock traded as high as $3.79 and last traded at $3.79. 575,480 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 1,663,152 shares. The stock had previously closed at $3.65.

Analyst Upgrades and Downgrades

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

Hafnia Price Performance

The firm has a market capitalization of $2.13 billion and a P/E ratio of 2.47. The business's 50-day simple moving average is $4.51 and its 200 day simple moving average is $5.39. 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, March 7th were issued a dividend of $0.0294 per share. This represents a $0.12 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, March 7th. Hafnia's dividend payout ratio is currently 7.28%.

Institutional Trading of Hafnia

Hedge funds have recently added to or reduced their stakes in the business. WealthCollab LLC purchased a new position in shares of Hafnia in the fourth quarter worth about $28,000. Smith Anglin Financial LLC bought a new position in Hafnia during the 1st quarter worth approximately $52,000. Bernard Wealth Management Corp. purchased a new position in Hafnia in the 4th quarter worth approximately $58,000. Vise Technologies Inc. purchased a new position in Hafnia in the 4th quarter worth approximately $71,000. Finally, SJS Investment Consulting Inc. bought a new stake in Hafnia in the fourth quarter valued at approximately $89,000.

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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.