Hafnia Limited (NYSE:HAFN) Sees Significant Growth in Short Interest

Hafnia Limited (NYSE:HAFN) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 4,790,000 shares, a growth of 16.0% from the February 13th total of 4,130,000 shares. Based on an average daily volume of 3,290,000 shares, the short-interest ratio is currently 1.5 days. Approximately 1.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Hafnia Price Performance

Shares of NYSE:HAFN traded down $0.04 on Thursday, reaching $4.54. The company’s stock had a trading volume of 1,063,533 shares, compared to its average volume of 1,631,771. Hafnia has a 52-week low of $3.91 and a 52-week high of $8.99. The company has a market cap of $2.30 billion and a P/E ratio of 2.67. The company has a 50-day simple moving average of $5.01 and a 200 day simple moving average of $5.80. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70.

Hafnia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, March 7th were paid a $0.0294 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.59%. Hafnia’s payout ratio is currently 7.28%.

Hedge Funds Weigh In On Hafnia

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its stake in shares of Hafnia by 125.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,754,312 shares of the company’s stock worth $64,223,000 after buying an additional 6,530,482 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Hafnia by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 11,113,978 shares of the company’s stock worth $59,449,000 after buying an additional 190,352 shares in the last quarter. Barclays PLC grew its stake in shares of Hafnia by 60.7% in the 4th quarter. Barclays PLC now owns 4,395,133 shares of the company’s stock worth $24,481,000 after buying an additional 1,660,627 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Hafnia by 1,775.4% during the 4th quarter. Marshall Wace LLP now owns 2,124,012 shares of the company’s stock worth $11,831,000 after purchasing an additional 2,010,753 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Hafnia by 6.4% during the 4th quarter. Nuveen Asset Management LLC now owns 1,773,846 shares of the company’s stock worth $9,488,000 after purchasing an additional 106,567 shares during the period.

About Hafnia

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.