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

Shares of Hafnia Limited (NYSE:HAFN) saw an uptick in trading volume on Thursday. Approximately 2,075,246 shares traded hands during mid-day trading, an increase of 11% from the previous session’s volume of 1,874,719 shares. The stock last traded at $10.3450 and had previously closed at $10.64.

Wall Street Analysts Forecast Growth

HAFN has been the topic of several recent research reports. Pareto Securities upgraded Hafnia from a “hold” rating to a “buy” rating in a report on Tuesday, September 29th. Weiss Ratings raised shares of Hafnia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, September 21st. BTIG Research raised their price target on Hafnia from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. Finally, Wall Street Zen downgraded Hafnia from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $12.00.

Hafnia Stock Performance

The business has a 50-day moving average of $9.03 and a two-hundred day moving average of $8.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 1.49. The company has a market cap of $5.23 billion, a P/E ratio of 7.73 and a beta of 0.52.

Hafnia (NYSE:HAFN) last announced its earnings results on Saturday, August 29th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. The firm had revenue of $834.53 million for the quarter, compared to the consensus estimate of $394.57 million. Hafnia had a return on equity of 26.74% and a net margin of 56.72%.

Hafnia Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th were given a dividend of $0.5003 per share. This is a boost from Hafnia’s previous quarterly dividend of $0.2877. The ex-dividend date was Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 19.6%. Hafnia’s payout ratio is 151.52%.

Institutional Investors Weigh In On Hafnia

A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. purchased a new position in Hafnia during the first quarter valued at $48,000. Aristides Capital LLC purchased a new position in shares of Hafnia in the fourth quarter valued at approximately $179,000. Shariaportfolio Inc. acquired a new position in Hafnia in the 1st quarter valued at $273,000. Quantinno Capital Management LP boosted its stake in Hafnia by 7.0% during the 1st quarter. Quantinno Capital Management LP now owns 55,859 shares of the company’s stock worth $425,000 after purchasing an additional 3,639 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Hafnia in the 2nd quarter worth approximately $410,000.

Hafnia Company Profile

Hafnia Limited is a maritime transportation company that owns and operates product tankers. The company transports refined petroleum products, vegetable oils, and other liquid bulk commodities for customers around the world.

Its fleet serves several segments of the product tanker market, including vessels used to carry cargoes over regional and long-haul routes. In addition to vessel ownership, Hafnia provides commercial management, chartering, pool management, and technical and operational services designed to support the transportation of liquid products.

Hafnia is headquartered in Singapore and operates globally, serving major energy, commodities, and industrial markets.