Hafnia (NYSE:HAFN) Shares Gap Down – What’s Next?

Hafnia Limited (NYSE:HAFN)’s share price gapped down before the market opened on Monday . The stock had previously closed at $10.12, but opened at $9.75. Hafnia shares last traded at $10.0550, with a volume of 396,100 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. BTIG Research raised their target price on Hafnia from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Pareto Securities lowered Hafnia to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings upgraded Hafnia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Wall Street Zen raised shares of Hafnia from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Hafnia currently has an average rating of “Moderate Buy” and an average target price of $12.00.

Hafnia Stock Performance

The company’s fifty day simple moving average is $8.22 and its 200 day simple moving average is $7.94. The stock has a market capitalization of $4.73 billion, a P/E ratio of 6.99 and a beta of 0.65. The company has a current ratio of 1.66, a quick ratio of 1.49 and a debt-to-equity ratio of 0.25.

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

Hafnia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were issued a $0.5003 dividend. This represents a $2.00 annualized dividend and a dividend yield of 21.7%. The ex-dividend date of this dividend was Tuesday, September 8th. This is an increase from Hafnia’s previous quarterly dividend of $0.29. Hafnia’s payout ratio is 151.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. bought a new position in shares of Hafnia in the 1st quarter worth $48,000. Aristides Capital LLC bought a new stake in shares of Hafnia during the 4th quarter worth $179,000. Shariaportfolio Inc. purchased a new position in Hafnia in the first quarter worth $273,000. Quantinno Capital Management LP grew its position in Hafnia by 7.0% in the first quarter. Quantinno Capital Management LP now owns 55,859 shares of the company’s stock worth $425,000 after acquiring an additional 3,639 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in Hafnia in the second quarter valued at $410,000.

Hafnia Company Profile

Hafnia Limited is a global maritime transportation company focused on the ownership and operation of product tankers. The company transports refined petroleum products, chemicals, and vegetable and animal oils for energy companies, commodity traders, and industrial customers.

Its activities include commercial management, chartering, vessel operations, and technical management. Hafnia operates across major international shipping routes and serves customers in key energy and commodity markets worldwide.

Hafnia is headquartered in Singapore and is part of the BW Group.