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

Hafnia Limited (NYSE:HAFN) shares saw unusually-high trading volume on Wednesday . Approximately 968,113 shares were traded during trading, an increase of 76% from the previous session’s volume of 548,703 shares.The stock last traded at $5.43 and had previously closed at $5.66.

Hafnia Stock Down 3.4 %

The business’s 50 day moving average is $6.98 and its 200 day moving average is $7.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.49. The stock has a market cap of $2.77 billion and a price-to-earnings ratio of 3.48.

Hafnia (NYSE:HAFN) last posted its quarterly earnings results on Friday, August 23rd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.42 by $0.09. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. The business had revenue of $417.36 million during the quarter, compared to analysts’ expectations of $387.14 million. Equities analysts expect that Hafnia Limited will post 1.59 earnings per share for the current year.

Hafnia Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.4049 per share. This represents a $1.62 annualized dividend and a yield of 29.61%. This is an increase from Hafnia’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, September 3rd. Hafnia’s dividend payout ratio is presently 103.18%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Mondrian Investment Partners LTD acquired a new position in Hafnia during the second quarter valued at approximately $43,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Hafnia during the 2nd quarter worth $60,000. Prudential PLC acquired a new position in Hafnia in the 2nd quarter valued at $100,000. TD Asset Management Inc acquired a new position in Hafnia during the 2nd quarter worth $148,000. Finally, XTX Topco Ltd bought a new stake in Hafnia during the second quarter valued at about $183,000.

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.