Hafnia (NYSE:HAFN) Reaches New 52-Week High – Here’s What Happened

Hafnia Limited (NYSE:HAFN)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $8.31 and last traded at $7.9850, with a volume of 1943109 shares trading hands. The stock had previously closed at $8.10.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HAFN shares. Dnb Carnegie lowered shares of Hafnia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Wall Street Zen lowered shares of Hafnia from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Hafnia in a research note on Wednesday, December 24th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Hafnia Stock Down 1.4%

The firm has a market cap of $4.09 billion, a P/E ratio of 11.74 and a beta of 0.54. The stock’s 50 day simple moving average is $7.08 and its 200 day simple moving average is $6.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 1.53.

Hafnia (NYSE:HAFN) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $599.88 million during the quarter, compared to analyst estimates of $285.64 million. Hafnia had a net margin of 35.54% and a return on equity of 14.71%.

Hafnia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, March 6th were paid a dividend of $0.1762 per share. This is a boost from Hafnia’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, March 6th. This represents a $0.70 dividend on an annualized basis and a yield of 8.8%. Hafnia’s dividend payout ratio (DPR) is presently 102.94%.

Institutional Trading of Hafnia

A number of hedge funds and other institutional investors have recently bought and sold shares of HAFN. MHR Fund Management LLC increased its stake in Hafnia by 24.0% during the 3rd quarter. MHR Fund Management LLC now owns 17,186,714 shares of the company’s stock valued at $102,948,000 after purchasing an additional 3,321,182 shares in the last quarter. Millennium Management LLC increased its stake in Hafnia by 5,973.8% during the 3rd quarter. Millennium Management LLC now owns 636,900 shares of the company’s stock valued at $3,815,000 after purchasing an additional 626,414 shares in the last quarter. Fearnley Asset Management AS bought a new stake in Hafnia during the 4th quarter valued at $3,185,000. Jane Street Group LLC increased its stake in Hafnia by 241.6% during the 1st quarter. Jane Street Group LLC now owns 815,341 shares of the company’s stock valued at $3,392,000 after purchasing an additional 576,629 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Hafnia by 17.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,870,521 shares of the company’s stock valued at $20,630,000 after purchasing an additional 571,909 shares in the last quarter.

About Hafnia

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.