Hafnia (NYSE:HAFN) Shares Gap Down – Here’s What Happened

Shares of Hafnia Limited (NYSE:HAFN) gapped down before the market opened on Friday . The stock had previously closed at $5.50, but opened at $5.39. Hafnia shares last traded at $5.41, with a volume of 484,988 shares trading hands.

Analysts Set New Price Targets

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

Hafnia Trading Down 0.9 %

The company’s 50 day moving average price is $5.58 and its two-hundred day moving average price is $6.92. The firm has a market cap of $2.76 billion and a PE ratio of 3.21. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.

Hafnia Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, December 6th were paid a $0.379 dividend. This represents a $1.52 annualized dividend and a yield of 27.82%. The ex-dividend date was Friday, December 6th. Hafnia’s payout ratio is currently 88.82%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new stake in shares of Hafnia during the second quarter valued at $2,421,000. Allspring Global Investments Holdings LLC purchased a new stake in Hafnia in the 2nd quarter valued at about $60,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Hafnia in the 2nd quarter worth about $528,000. TD Asset Management Inc purchased a new position in shares of Hafnia during the second quarter worth approximately $148,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Hafnia during the second quarter valued at approximately $107,651,000.

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.