Hafnia (NYSE:HAFN) Trading Down 3% – Should You Sell?

Hafnia Limited (NYSE:HAFN) shares traded down 3% on Friday . The stock traded as low as $5.55 and last traded at $5.55. 417,622 shares changed hands during trading, a decline of 64% from the average session volume of 1,172,566 shares. The stock had previously closed at $5.72.

Analyst Ratings Changes

Separately, Jefferies Financial Group reduced their target price on shares of Hafnia from $8.00 to $6.50 and set a “buy” rating for the company in a research note on Tuesday, December 17th.

Hafnia Price Performance

The stock has a fifty day simple moving average of $5.52 and a 200-day simple moving average of $6.86. The stock has a market cap of $2.83 billion and a price-to-earnings ratio of 3.28. The company has a current ratio of 1.70, a quick ratio of 1.52 and a debt-to-equity ratio of 0.34.

Hafnia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th were paid a $0.379 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 27.17%. Hafnia’s dividend payout ratio (DPR) is presently 89.41%.

Institutional Investors Weigh In On Hafnia

Several large investors have recently bought and sold shares of HAFN. Acadian Asset Management LLC bought a new stake in Hafnia in the 2nd quarter valued at about $107,651,000. Hsbc Holdings PLC bought a new stake in Hafnia in the second quarter valued at approximately $24,514,000. DekaBank Deutsche Girozentrale bought a new stake in Hafnia during the second quarter valued at $23,646,000. Barclays PLC grew its position in shares of Hafnia by 72.7% during the 3rd quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock worth $19,580,000 after buying an additional 1,151,528 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Hafnia in the third 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.