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

Shares of Hafnia Limited (NYSE:HAFN) saw unusually-strong trading volume on Wednesday . Approximately 474,728 shares were traded during trading, a decline of 40% from the previous session’s volume of 790,651 shares.The stock last traded at $5.44 and had previously closed at $5.46.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group decreased their price target on Hafnia from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

Hafnia Stock Performance

The stock’s fifty day moving average price is $5.98 and its two-hundred day moving average price is $7.17. The company has a market cap of $2.69 billion and a P/E ratio of 3.12. 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 declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, December 6th will be paid a $0.379 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.52 annualized dividend and a dividend yield of 28.60%. Hafnia’s payout ratio is 89.41%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mondrian Investment Partners LTD bought a new position in Hafnia in the second quarter valued at about $43,000. Allspring Global Investments Holdings LLC bought a new stake in Hafnia in the second quarter worth approximately $60,000. Prudential PLC acquired a new position in Hafnia in the second quarter valued at approximately $100,000. Infrastructure Capital Advisors LLC bought a new position in shares of Hafnia during the 3rd quarter worth approximately $119,000. Finally, DGS Capital Management LLC bought a new stake in shares of Hafnia in the 3rd quarter valued at $121,000.

Hafnia Company Profile

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.