Hafnia (NYSE:HAFN) Shares Gap Down – Here’s What Happened

Hafnia Limited (NYSE:HAFN)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $6.18, but opened at $5.93. Hafnia shares last traded at $5.9050, with a volume of 490,803 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HAFN. Fearnley Fonds lowered Hafnia from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. Weiss Ratings reaffirmed 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.50.

Hafnia Trading Down 0.3%

The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 6.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.21. The company has a 50-day moving average price of $6.16 and a 200-day moving average price of $5.73.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Avantax Advisory Services Inc. acquired a new stake in Hafnia during the 1st quarter worth $47,000. Skandinaviska Enskilda Banken AB publ increased its position in shares of Hafnia by 8.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 33,249 shares of the company’s stock worth $138,000 after purchasing an additional 2,591 shares in the last quarter. TD Asset Management Inc lifted 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 valued at $116,000 after purchasing an additional 7,892 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Hafnia by 17.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 94,299 shares of the company’s stock valued at $387,000 after purchasing an additional 14,284 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Hafnia during the 1st quarter worth approximately $986,000.

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.