Hafnia Limited (NYSE:HAFN - Get Free Report)'s share price dropped 2.8% during trading on Wednesday . The company traded as low as $5.92 and last traded at $5.93. Approximately 1,193,052 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 2,435,132 shares. The stock had previously closed at $6.10.
Analyst Ratings Changes
Separately, Jefferies Financial Group lowered their target price on Hafnia from $8.00 to $6.50 and set a "buy" rating for the company in a research note on Tuesday, December 17th.
Check Out Our Latest Analysis on HAFN
Hafnia Price Performance
The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $3.04 billion and a price-to-earnings ratio of 3.53. The stock's 50-day moving average price is $5.51 and its 200-day moving average price is $6.72.
Hafnia Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders 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 yield of 25.27%. Hafnia's payout ratio is 88.82%.
Institutional Investors Weigh In On Hafnia
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Mondrian Investment Partners LTD acquired a new stake in Hafnia in the second quarter worth about $43,000. Infrastructure Capital Advisors LLC bought a new position in Hafnia in the third quarter valued at approximately $119,000. DGS Capital Management LLC acquired a new stake in Hafnia during the 3rd quarter worth $121,000. TD Asset Management Inc bought a new stake in shares of Hafnia during the 2nd quarter valued at $148,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Hafnia in the 3rd quarter valued at $128,000.
Hafnia Company Profile
(
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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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