Hafnia (NYSE:HAFN) Hits New 1-Year High – What’s Next?

Hafnia Limited (NYSE:HAFN)’s share price reached a new 52-week high on Wednesday . The company traded as high as $6.45 and last traded at $6.4050, with a volume of 200572 shares changing hands. The stock had previously closed at $6.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Fearnley Fonds cut shares of Hafnia from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Hafnia in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.50.

Hafnia Price Performance

The stock has a market capitalization of $3.25 billion, a PE ratio of 7.55 and a beta of 0.92. The business’s 50-day moving average price is $6.13 and its 200 day moving average price is $5.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.21.

Hafnia (NYSE:HAFN) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $346.56 million for the quarter, compared to analysts’ expectations of $249.42 million. Hafnia had a return on equity of 18.74% and a net margin of 37.26%.

Hafnia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Thursday, September 4th were given a dividend of $0.121 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.48 annualized dividend and a yield of 7.5%. Hafnia’s payout ratio is presently 56.47%.

Institutional Trading of Hafnia

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its position in Hafnia by 86.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,642 shares of the company’s stock worth $90,000 after acquiring an additional 10,033 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in Hafnia during the second quarter valued at about $932,000. Vanguard Personalized Indexing Management LLC raised its position in Hafnia by 110.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 125,449 shares of the company’s stock valued at $626,000 after purchasing an additional 65,871 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Hafnia by 62.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,130,888 shares of the company’s stock worth $8,738,000 after purchasing an additional 817,737 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Hafnia by 38.5% in the 1st quarter. TD Asset Management Inc now owns 28,406 shares of the company’s stock worth $116,000 after purchasing an additional 7,892 shares in the last quarter.

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.