Hafnia (NYSE:HAFN) Hits New 52-Week Low After Analyst Downgrade

Hafnia Limited (NYSE:HAFN) reached a new 52-week low during trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $8.00 to $6.50. Jefferies Financial Group currently has a buy rating on the stock. Hafnia traded as low as $5.06 and last traded at $5.06, with a volume of 233568 shares traded. The stock had previously closed at $5.25.

Institutional Trading of Hafnia

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new position in Hafnia during the 2nd quarter worth about $107,651,000. DekaBank Deutsche Girozentrale raised its stake in shares of Hafnia by 10.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock worth $21,350,000 after acquiring an additional 290,000 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Hafnia in the second quarter valued at approximately $24,514,000. Barclays PLC boosted its position in Hafnia by 72.7% in the 3rd quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock valued at $19,580,000 after buying an additional 1,151,528 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Hafnia in the 3rd quarter valued at $3,774,000.

Hafnia Price Performance

The company has a market capitalization of $2.64 billion and a price-to-earnings ratio of 3.08. The company has a current ratio of 1.70, a quick ratio of 1.52 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $5.89 and a 200 day moving average price of $7.10.

Hafnia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, December 6th were given a dividend of $0.379 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 29.07%. Hafnia’s payout ratio is presently 88.82%.

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.