Hafnia (NYSE:HAFN) Stock Rating Upgraded by Wall Street Zen

Hafnia (NYSE:HAFN) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on HAFN. Weiss Ratings raised shares of Hafnia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, September 21st. BTIG Research raised their price target on shares of Hafnia from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Finally, Pareto Securities raised Hafnia from a “hold” rating to a “buy” rating in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Hafnia currently has an average rating of “Buy” and a consensus price target of $12.00.

Hafnia Stock Up 0.2%

HAFN opened at $10.89 on Friday. The firm has a market cap of $5.58 billion, a P/E ratio of 8.25 and a beta of 0.46. The business’s fifty day simple moving average is $9.68 and its 200 day simple moving average is $8.01. Hafnia has a 52 week low of $5.17 and a 52 week high of $11.11. The company has a quick ratio of 1.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.25.

Hafnia (NYSE:HAFN) last posted its quarterly earnings results on Saturday, August 29th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. Hafnia had a return on equity of 26.74% and a net margin of 56.72%. The company had revenue of $834.53 million during the quarter, compared to analysts’ expectations of $394.57 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of Hafnia by 175.0% in the 1st quarter. Bank of America Corp DE now owns 571,705 shares of the company’s stock worth $4,345,000 after purchasing an additional 363,821 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Hafnia during the 2nd quarter valued at approximately $2,307,000. BTG Pactual Asset Management US LLC purchased a new stake in Hafnia during the second quarter valued at approximately $1,719,000. Segall Bryant & Hamill LLC bought a new position in Hafnia in the 1st quarter valued at $1,859,000. Finally, CWA Asset Management Group LLC increased its holdings in Hafnia by 46.6% during the third quarter. CWA Asset Management Group LLC now owns 739,605 shares of the company’s stock valued at $7,352,000 after buying an additional 235,043 shares during the period.

About Hafnia

Hafnia Limited is a global owner and operator of product tankers that transport refined petroleum products, chemicals, and vegetable oils. The company provides maritime transportation services to energy companies, commodity traders, and industrial customers through a fleet of vessels serving international shipping routes.

In addition to owning and operating tankers, Hafnia offers commercial management, chartering, pool management, and technical and operational services. Its activities span the transportation of clean petroleum products, including gasoline, diesel, and jet fuel, as well as other liquid cargoes.

Hafnia is headquartered in Singapore and operates internationally, with activities and offices serving major energy and shipping markets.