Hafnia (NYSE:HAFN) Shares Gap Up – Here’s Why

Hafnia Limited (NYSE:HAFN) gapped up before the market opened on Thursday . The stock had previously closed at $4.28, but opened at $4.38. Hafnia shares last traded at $4.40, with a volume of 629,178 shares traded.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lowered their price objective on shares of Hafnia from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, December 17th.

Hafnia Price Performance

The stock has a 50-day simple moving average of $5.26 and a 200 day simple moving average of $6.05. The stock has a market capitalization of $2.24 billion and a P/E ratio of 2.60. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.0294 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.12 annualized dividend and a yield of 2.66%. Hafnia’s dividend payout ratio is currently 7.28%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. WealthCollab LLC acquired a new position in Hafnia in the fourth quarter valued at approximately $28,000. Bernard Wealth Management Corp. acquired a new position in shares of Hafnia in the 4th quarter valued at $58,000. Vise Technologies Inc. bought a new position in shares of Hafnia in the 4th quarter worth $71,000. SJS Investment Consulting Inc. acquired a new stake in shares of Hafnia during the fourth quarter worth $89,000. Finally, Clear Harbor Asset Management LLC bought a new stake in Hafnia in the fourth quarter valued at about $92,000.

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.