Hafnia (NYSE:HAFN) Stock Price Down 3% - What's Next?

Hafnia Limited (NYSE:HAFN - Get Free Report) was down 3% on Friday . The stock traded as low as $5.55 and last traded at $5.55. Approximately 417,622 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,172,566 shares. The stock had previously closed at $5.72.

Wall Street Analysts Forecast Growth

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

Hafnia Price 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 business's fifty day simple moving average is $5.50 and its 200 day simple moving average is $6.85. The stock has a market cap of $2.81 billion and a price-to-earnings ratio of 3.26.

Hafnia Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, December 6th were issued a $0.379 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 27.32%. The ex-dividend date of this dividend was Friday, December 6th. Hafnia's dividend payout ratio is currently 89.41%.

Institutional Investors Weigh In On Hafnia

Several hedge funds and other institutional investors have recently bought and sold shares of HAFN. Acadian Asset Management LLC bought a new stake in Hafnia during the second quarter valued at $107,651,000. Hsbc Holdings PLC acquired a new stake in shares of Hafnia in the 2nd quarter worth approximately $24,514,000. DekaBank Deutsche Girozentrale bought a new position in Hafnia during the 2nd quarter valued at $23,646,000. Barclays PLC boosted its stake in Hafnia by 72.7% during the third quarter. Barclays PLC now owns 2,734,506 shares of the company's stock valued at $19,580,000 after buying an additional 1,151,528 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Hafnia during the 3rd quarter valued at about $3,774,000.

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.