Hafnia (NYSE:HAFN) Hits New 52-Week High – Here’s Why

Shares of Hafnia Limited (NYSE:HAFN) hit 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. The stock had previously closed at $6.35.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HAFN. Fearnley Fonds lowered shares of Hafnia from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Hafnia in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.50.

Hafnia Stock Up 1.0%

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.21 and a quick ratio of 1.09. The stock has a fifty day moving average price of $6.13 and a two-hundred day moving average price of $5.62. The company has a market cap of $3.25 billion, a P/E ratio of 7.55 and a beta of 0.92.

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

Hafnia Dividend Announcement

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

Institutional Trading of Hafnia

A number of hedge funds have recently bought and sold shares of HAFN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Hafnia by 62.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,130,888 shares of the company’s stock valued at $8,738,000 after acquiring an additional 817,737 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Hafnia by 2,389.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 827,583 shares of the company’s stock worth $4,130,000 after acquiring an additional 794,334 shares during the period. Jane Street Group LLC increased its holdings in Hafnia by 241.6% in the 1st quarter. Jane Street Group LLC now owns 815,341 shares of the company’s stock worth $3,392,000 after acquiring an additional 576,629 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Hafnia by 504.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 617,051 shares of the company’s stock worth $2,537,000 after acquiring an additional 514,988 shares during the last quarter. Finally, PDT Partners LLC raised its stake in Hafnia by 452.6% in the 1st quarter. PDT Partners LLC now owns 466,177 shares of the company’s stock valued at $1,939,000 after acquiring an additional 381,822 shares during the period.

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.