Hafnia (NYSE:HAFN) Trading 5.8% Higher – Should You Buy?

Hafnia Limited (NYSE:HAFN) rose 5.8% during trading on Tuesday . The stock traded as high as $5.73 and last traded at $5.74. Approximately 257,006 shares were traded during trading, a decline of 87% from the average daily volume of 1,905,254 shares. The stock had previously closed at $5.42.

Wall Street Analysts Forecast Growth

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

Hafnia Trading Up 4.7%

The stock’s 50 day simple moving average is $4.86 and its 200 day simple moving average is $4.96. The firm has a market cap of $2.88 billion, a PE ratio of 3.34 and a beta of 0.95. 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 (NYSE:HAFN) last announced its earnings results on Thursday, May 15th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Hafnia had a net margin of 53.44% and a return on equity of 36.90%. The company had revenue of $340.34 million during the quarter, compared to analyst estimates of $250.80 million.

Hafnia Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, June 4th. Investors of record on Monday, May 26th were given a $0.1015 dividend. This represents a yield of 7.59%. The ex-dividend date was Friday, May 23rd. Hafnia’s payout ratio is presently 33.06%.

Institutional Trading of Hafnia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Callan Capital LLC bought a new stake in shares of Hafnia in the 4th quarter worth approximately $112,000. Sigma Planning Corp raised its position in shares of Hafnia by 30.8% in the 4th quarter. Sigma Planning Corp now owns 36,950 shares of the company’s stock worth $206,000 after purchasing an additional 8,700 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Hafnia by 100.4% in the 4th quarter. Bank of New York Mellon Corp now owns 573,825 shares of the company’s stock worth $3,196,000 after purchasing an additional 287,460 shares in the last quarter. U S Global Investors Inc. increased its stake in Hafnia by 20.7% during the 4th quarter. U S Global Investors Inc. now owns 56,508 shares of the company’s stock valued at $300,000 after purchasing an additional 9,703 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in Hafnia in the fourth quarter worth about $162,000.

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.