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

Hafnia Limited (NYSE:HAFN) shares gapped down before the market opened on Friday . The stock had previously closed at $5.50, but opened at $5.39. Hafnia shares last traded at $5.41, with a volume of 484,988 shares traded.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group decreased their price objective on Hafnia from $8.00 to $6.50 and set a “buy” rating for the company in a report on Tuesday, December 17th.

Hafnia Trading Down 0.9 %

The stock has a market capitalization of $2.76 billion and a P/E ratio of 3.21. The stock’s 50 day moving average price is $5.58 and its 200-day moving average price is $6.92. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.

Hafnia Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th were issued a $0.379 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 27.82%. Hafnia’s dividend payout ratio is presently 88.82%.

Institutional Investors Weigh In On Hafnia

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in Hafnia during the second quarter valued at approximately $107,651,000. Hsbc Holdings PLC acquired a new position in shares of Hafnia during the second quarter worth $24,514,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Hafnia during the 2nd quarter valued at $23,646,000. Barclays PLC boosted its position in shares of Hafnia by 72.7% in the 3rd quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock worth $19,580,000 after purchasing an additional 1,151,528 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in Hafnia during the 3rd quarter worth $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.