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

Hafnia Limited (NYSE:HAFN - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $6.20, but opened at $5.98. Hafnia shares last traded at $6.04, with a volume of 730,759 shares changing hands.

Hafnia Price Performance

The company has a market cap of $3.07 billion and a P/E ratio of 3.87. The company has a fifty day simple moving average of $7.32 and a 200-day simple moving average of $7.74. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 1.33.

Hafnia (NYSE:HAFN - Get Free Report) last posted its quarterly earnings results on Friday, August 23rd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.09. The company had revenue of $417.36 million for the quarter, compared to analysts' expectations of $387.14 million. Hafnia had a return on equity of 34.28% and a net margin of 47.30%. On average, sell-side analysts predict that Hafnia Limited will post 1.6 earnings per share for the current year.

Hafnia Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were issued a $0.4049 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.62 annualized dividend and a dividend yield of 26.77%. This is a boost from Hafnia's previous quarterly dividend of $0.34. Hafnia's dividend payout ratio is currently 103.19%.

Hedge Funds Weigh In On Hafnia

Several institutional investors and hedge funds have recently added to or reduced their stakes in HAFN. Mondrian Investment Partners LTD purchased a new position in Hafnia during the 2nd quarter worth approximately $43,000. Allspring Global Investments Holdings LLC purchased a new position in Hafnia during the 2nd quarter worth approximately $60,000. Prudential PLC purchased a new position in Hafnia during the 2nd quarter worth approximately $100,000. TD Asset Management Inc purchased a new position in Hafnia during the 2nd quarter worth approximately $148,000. Finally, XTX Topco Ltd purchased a new position in Hafnia during the 2nd quarter worth approximately $183,000.

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.