Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume – Should You Buy?
by Tristan Rich · The Markets DailyHafnia Limited (NYSE:HAFN – Get Free Report) saw unusually-high trading volume on Thursday. 2,075,246 shares changed hands during trading, an increase of 11% from the previous session’s volume of 1,874,719 shares. The stock last traded at $10.3450 and had previously closed at $10.64.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. BTIG Research upped their price objective on Hafnia from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, September 18th. Pareto Securities raised Hafnia from a “hold” rating to a “buy” rating in a research note on Tuesday, September 29th. Weiss Ratings raised Hafnia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, September 21st. Finally, Wall Street Zen downgraded Hafnia from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $12.00.
Get Our Latest Analysis on Hafnia
Hafnia Price Performance
The company has a quick ratio of 1.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 7.59 and a beta of 0.52. The stock’s 50-day simple moving average is $9.13 and its 200 day simple moving average is $8.29.
Hafnia (NYSE:HAFN – Get Free Report) last announced its quarterly 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. The business had revenue of $834.53 million during the quarter, compared to analysts’ expectations of $394.57 million. Hafnia had a net margin of 56.72% and a return on equity of 26.74%.
Hafnia Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were given a $0.5003 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This is a positive change from Hafnia’s previous quarterly dividend of $0.2877. This represents a $2.00 dividend on an annualized basis and a yield of 20.0%. Hafnia’s dividend payout ratio is presently 151.52%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. acquired a new position in Hafnia during the 1st quarter worth about $48,000. Aristides Capital LLC acquired a new position in Hafnia in the 4th quarter valued at about $179,000. Shariaportfolio Inc. acquired a new position in Hafnia in the 1st quarter valued at about $273,000. Squarepoint Ops LLC acquired a new position in Hafnia in the 2nd quarter valued at about $410,000. Finally, Quantinno Capital Management LP increased its stake in Hafnia by 7.0% during the first quarter. Quantinno Capital Management LP now owns 55,859 shares of the company’s stock worth $425,000 after purchasing an additional 3,639 shares during the period.
About Hafnia
Hafnia Limited is a maritime transportation company that owns and operates product tankers. The company transports refined petroleum products, vegetable oils, and other liquid bulk commodities for customers around the world.
Its fleet serves several segments of the product tanker market, including vessels used to carry cargoes over regional and long-haul routes. In addition to vessel ownership, Hafnia provides commercial management, chartering, pool management, and technical and operational services designed to support the transportation of liquid products.
Hafnia is headquartered in Singapore and operates globally, serving major energy, commodities, and industrial markets.
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