Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume - Should You Buy?

Shares of Hafnia Limited (NYSE:HAFN - Get Free Report) saw an uptick in trading volume on Tuesday . 592,554 shares changed hands during mid-day trading, an increase of 26% from the previous session's volume of 470,491 shares.The stock last traded at $6.57 and had previously closed at $6.61.

Hafnia Stock Performance

The company has a quick ratio of 1.33, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $3.30 billion and a PE ratio of 4.15. The stock's 50 day moving average price is $7.41.

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

Hafnia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.4049 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 24.84%. This is a positive change from Hafnia's previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, September 3rd. Hafnia's dividend payout ratio (DPR) is 103.19%.

Institutional Trading of Hafnia

A number of hedge funds and other institutional investors have recently made changes to their positions in HAFN. Acadian Asset Management LLC bought a new stake in Hafnia in the second quarter worth about $107,651,000. Hsbc Holdings PLC acquired a new stake in Hafnia during the second quarter valued at approximately $24,514,000. DekaBank Deutsche Girozentrale bought a new stake in Hafnia during the second quarter worth approximately $23,646,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Hafnia in the second quarter worth approximately $4,327,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Hafnia in the second quarter valued at $2,421,000.

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.