Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Hafnia Limited (NYSE:HAFN) saw unusually-strong trading volume on Tuesday . Approximately 610,569 shares traded hands during mid-day trading, a decline of 14% from the previous session’s volume of 707,996 shares.The stock last traded at $5.75 and had previously closed at $5.63.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut their price target on Hafnia from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

Hafnia Trading Up 4.1 %

The business’s 50 day moving average is $6.27 and its two-hundred day moving average is $7.32. The firm has a market capitalization of $2.97 billion and a P/E ratio of 3.31. The company has a quick ratio of 1.33, a current ratio of 1.49 and a debt-to-equity ratio of 0.33.

Hafnia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th will be issued a $0.379 dividend. This represents a $1.52 annualized dividend and a dividend yield of 25.87%. The ex-dividend date is Thursday, December 5th. Hafnia’s dividend payout ratio (DPR) is presently 95.29%.

Institutional Trading of Hafnia

Hedge funds and other institutional investors have recently modified their holdings of the company. Mondrian Investment Partners LTD bought a new position in Hafnia during the second quarter valued at about $43,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Hafnia in the 2nd quarter worth approximately $60,000. Prudential PLC acquired a new stake in Hafnia during the second quarter valued at approximately $100,000. Infrastructure Capital Advisors LLC acquired a new stake in Hafnia during the third quarter valued at approximately $119,000. Finally, Quantinno Capital Management LP bought a new stake in Hafnia during the third quarter worth approximately $128,000.

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.