Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume – Here’s Why

Hafnia Limited (NYSE:HAFN) shares saw an uptick in trading volume on Thursday . Approximately 2,629,335 shares changed hands during trading, an increase of 52% from the previous session’s volume of 1,727,766 shares.The stock last traded at $8.7560 and had previously closed at $9.10.

Wall Street Analysts Forecast Growth

HAFN has been the subject of a number of research analyst reports. Pareto Securities lowered shares of Hafnia to a “hold” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Hafnia from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 30th. BTIG Research boosted their target price on Hafnia from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Finally, Weiss Ratings upgraded Hafnia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Hafnia Stock Down 3.6%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.49 and a current ratio of 1.66. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 6.65 and a beta of 0.65. The stock’s fifty day simple moving average is $8.25 and its two-hundred day simple moving average is $7.95.

Hafnia (NYSE:HAFN) last posted its quarterly earnings data on Saturday, August 29th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. The company had revenue of $834.53 million during the quarter, compared to analyst estimates 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 announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 8th were issued a dividend of $0.5003 per share. The ex-dividend date was Tuesday, September 8th. This is a positive change from Hafnia’s previous quarterly dividend of $0.29. This represents a $2.00 dividend on an annualized basis and a yield of 22.8%. Hafnia’s payout ratio is 151.52%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HAFN. Assenagon Asset Management S.A. bought a new position in shares of Hafnia in the first quarter valued at $32,205,000. MHR Fund Management LLC boosted its stake in shares of Hafnia by 7.6% during the 4th quarter. MHR Fund Management LLC now owns 18,496,652 shares of the company’s stock worth $98,587,000 after acquiring an additional 1,309,938 shares in the last quarter. Fearnley Asset Management AS acquired a new position in shares of Hafnia in the 4th quarter worth $3,185,000. Marnell Management LLC acquired a new position in shares of Hafnia in the 4th quarter worth $2,155,000. Finally, Bank of America Corp DE grew its holdings 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 acquiring an additional 363,821 shares during the last quarter.

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.