Hafnia (NYSE:HAFN) Stock Price Down 5.9% – Here’s What Happened

Hafnia Limited (NYSE:HAFN) fell 5.9% during mid-day trading on Thursday . The stock traded as low as $7.26 and last traded at $7.2750. 1,111,493 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 1,753,838 shares. The stock had previously closed at $7.73.

Analysts Set New Price Targets

Several brokerages have issued reports on HAFN. Weiss Ratings restated a “hold (c)” rating on shares of Hafnia in a research report on Wednesday, May 6th. Wall Street Zen upgraded Hafnia from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. Pareto Securities cut Hafnia to a “hold” rating in a report on Wednesday, May 27th. Finally, Dnb Carnegie cut Hafnia from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Hafnia Price Performance

The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 8.01 and a beta of 0.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.48 and a current ratio of 1.60. The business has a 50 day moving average price of $8.30 and a 200-day moving average price of $6.97.

Hafnia (NYSE:HAFN) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.36 earnings per share (EPS) for the quarter. Hafnia had a return on equity of 19.20% and a net margin of 44.74%.The company had revenue of $688.87 million for the quarter.

Hafnia Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Thursday, June 4th will be paid a $0.2877 dividend. This represents a $1.15 annualized dividend and a yield of 15.8%. This is an increase from Hafnia’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, June 4th. Hafnia’s payout ratio is presently 76.92%.

Insider Buying and Selling at Hafnia

In other Hafnia news, CEO Mikael Opstun Skov sold 500,000 shares of Hafnia stock in a transaction on Monday, April 13th. The shares were sold at an average price of $8.11, for a total value of $4,055,000.00. Following the completion of the sale, the chief executive officer directly owned 1,130,978 shares of the company’s stock, valued at approximately $9,172,231.58. The trade was a 30.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Echtelt Petrus Wouter Van sold 90,000 shares of Hafnia stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $8.22, for a total transaction of $739,800.00. Following the completion of the sale, the chief financial officer directly owned 91,994 shares of the company’s stock, valued at approximately $756,190.68. The trade was a 49.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,090,000 shares of company stock valued at $8,854,800.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. bought a new position in shares of Hafnia in the first quarter valued at approximately $32,205,000. MHR Fund Management LLC lifted its holdings in shares of Hafnia by 24.0% in the third quarter. MHR Fund Management LLC now owns 17,186,714 shares of the company’s stock valued at $102,948,000 after purchasing an additional 3,321,182 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Hafnia by 5,973.8% in the third quarter. Millennium Management LLC now owns 636,900 shares of the company’s stock valued at $3,815,000 after purchasing an additional 626,414 shares in the last quarter. Fearnley Asset Management AS bought a new position in Hafnia during the 4th quarter valued at $3,185,000. Finally, Jane Street Group LLC lifted its stake in Hafnia by 241.6% during the 1st quarter. Jane Street Group LLC now owns 815,341 shares of the company’s stock valued at $3,392,000 after acquiring an additional 576,629 shares in the last quarter.

About Hafnia

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.