Hafnia (NYSE:HAFN) Shares Down 2.8% - Time to Sell?

Hafnia Limited (NYSE:HAFN - Get Free Report)'s stock price traded down 2.8% during trading on Wednesday . The stock traded as low as $5.92 and last traded at $5.93. 1,193,052 shares traded hands during trading, a decline of 51% from the average session volume of 2,435,132 shares. The stock had previously closed at $6.10.

Analyst Upgrades and Downgrades

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

Hafnia Stock Performance

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 has a 50 day moving average price of $5.51 and a 200 day moving average price of $6.71. The stock has a market capitalization of $2.76 billion and a PE ratio of 3.20.

Hafnia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th were paid a $0.379 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.52 annualized dividend and a dividend yield of 27.84%. Hafnia's dividend payout ratio is presently 88.82%.

Hedge Funds Weigh In On Hafnia

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Clear Harbor Asset Management LLC purchased a new stake in Hafnia during the 4th quarter valued at $92,000. Infrastructure Capital Advisors LLC purchased a new position in shares of Hafnia in the 3rd quarter worth $119,000. DGS Capital Management LLC bought a new stake in shares of Hafnia in the third quarter worth $121,000. Quantinno Capital Management LP purchased a new stake in Hafnia during the third quarter valued at $128,000. Finally, Syquant Capital Sas bought a new position in Hafnia in the fourth quarter valued at about $165,000.

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.

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