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

Hafnia Limited (NYSE:HAFN) shares gapped down prior to trading on Tuesday . The stock had previously closed at $9.22, but opened at $8.81. Hafnia shares last traded at $8.7550, with a volume of 306,392 shares changing hands.

Wall Street Analyst Weigh In

HAFN has been the topic of a number of research reports. Weiss Ratings raised Hafnia from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 3rd. Pareto Securities cut Hafnia to a “hold” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded Hafnia from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 30th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Hafnia currently has a consensus rating of “Moderate Buy”.

Hafnia Stock Up 2.3%

The company has a market capitalization of $4.70 billion, a P/E ratio of 6.94 and a beta of 0.65. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.49 and a current ratio of 1.66. The stock has a 50 day moving average price of $7.79 and a 200 day moving average price of $7.81.

Hafnia (NYSE:HAFN) last released its earnings results on Saturday, August 29th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Hafnia had a net margin of 56.72% and a return on equity of 26.74%. The firm had revenue of $834.53 million during the quarter, compared to the consensus estimate of $394.57 million.

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be paid a $0.5003 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 21.8%. This is an increase from Hafnia’s previous quarterly dividend of $0.29. Hafnia’s dividend payout ratio (DPR) is presently 151.52%.

Hedge Funds Weigh In On Hafnia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HAFN. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Hafnia by 82.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 431,462 shares of the company’s stock worth $1,795,000 after acquiring an additional 194,751 shares during the period. Jane Street Group LLC raised its stake in shares of Hafnia by 241.6% during the 1st quarter. Jane Street Group LLC now owns 815,341 shares of the company’s stock valued at $3,392,000 after purchasing an additional 576,629 shares during the period. JPMorgan Chase & Co. lifted its holdings in Hafnia by 26.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 233,532 shares of the company’s stock worth $1,165,000 after purchasing an additional 49,409 shares in the last quarter. First Trust Advisors LP lifted its holdings in Hafnia by 138.5% during the 2nd quarter. First Trust Advisors LP now owns 144,871 shares of the company’s stock worth $725,000 after purchasing an additional 84,140 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in Hafnia during the 2nd quarter worth about $131,000.

Hafnia Company Profile

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.