Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume – Here’s Why

Shares of Hafnia Limited (NYSE:HAFN) saw strong trading volume on Tuesday . 1,219,103 shares were traded during mid-day trading, an increase of 41% from the previous session’s volume of 863,324 shares.The stock last traded at $5.53 and had previously closed at $5.29.

Wall Street Analyst Weigh In

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 report on Tuesday, December 17th.

Hafnia Stock Performance

The company has a market cap of $2.84 billion and a PE ratio of 3.30. The company’s fifty day moving average price is $5.65 and its 200 day moving average price is $6.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.52.

Hafnia Cuts Dividend

The firm 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 was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 27.02%. Hafnia’s payout ratio is presently 88.82%.

Institutional Trading of Hafnia

Hedge funds have recently bought and sold shares of the business. DGS Capital Management LLC purchased a new stake in shares of Hafnia during the 3rd quarter valued at $121,000. Tidal Investments LLC purchased a new stake in Hafnia during the third quarter worth about $198,000. Barclays PLC raised its position in Hafnia by 72.7% in the third quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock worth $19,580,000 after acquiring an additional 1,151,528 shares during the period. XTX Topco Ltd boosted its stake in Hafnia by 625.6% in the third quarter. XTX Topco Ltd now owns 158,583 shares of the company’s stock valued at $1,135,000 after acquiring an additional 136,727 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of Hafnia by 671.7% during the 3rd quarter. Jane Street Group LLC now owns 257,427 shares of the company’s stock valued at $1,833,000 after acquiring an additional 224,070 shares during the period.

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.