Hafnia (NYSE:HAFN) Shares Gap Down – What’s Next?

Shares of Hafnia Limited (NYSE:HAFN) gapped down prior to trading on Wednesday . The stock had previously closed at $5.21, but opened at $5.10. Hafnia shares last traded at $5.09, with a volume of 512,014 shares.

Wall Street Analysts Forecast Growth

Separately, Fearnley Fonds raised Hafnia to a “strong-buy” rating in a research note on Tuesday, May 6th.

Hafnia Stock Performance

The stock has a market capitalization of $2.56 billion and a P/E ratio of 2.97. The company has a quick ratio of 1.52, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average price of $4.56 and a 200-day moving average price of $4.99.

Hafnia (NYSE:HAFN) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Hafnia had a return on equity of 36.90% and a net margin of 53.44%. The firm had revenue of $340.34 million for the quarter, compared to the consensus estimate of $250.80 million.

Hafnia Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Monday, May 26th will be issued a $0.1015 dividend. This represents a yield of 7.59%. The ex-dividend date is Friday, May 23rd. Hafnia’s dividend payout ratio is 33.06%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in shares of Hafnia in the fourth quarter worth about $1,472,000. Virtu Financial LLC bought a new position in shares of Hafnia in the fourth quarter worth about $117,000. Wells Fargo & Company MN raised its stake in Hafnia by 7,756.1% during the 4th quarter. Wells Fargo & Company MN now owns 18,776 shares of the company’s stock valued at $105,000 after purchasing an additional 18,537 shares during the period. Wellington Management Group LLP bought a new stake in Hafnia during the 4th quarter valued at approximately $668,000. Finally, Amundi bought a new stake in Hafnia during the 4th quarter valued at approximately $159,000.

About Hafnia

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.