Hafnia (NYSE:HAFN) Sees Strong Trading Volume – Should You Buy?

by · The Markets Daily

Shares of Hafnia Limited (NYSE:HAFN – Get Free Report) saw an uptick in trading volume on Tuesday . 592,554 shares changed hands during mid-day trading, an increase of 26% from the previous session’s volume of 470,491 shares.The stock last traded at $6.57 and had previously closed at $6.61.

Hafnia Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.49. The stock’s 50 day simple moving average is $7.43. The firm has a market capitalization of $3.31 billion and a P/E ratio of 4.16.

Hafnia (NYSE:HAFN – Get Free Report) last announced its earnings results on Friday, August 23rd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.09. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. The firm had revenue of $417.36 million for the quarter, compared to analysts’ expectations of $387.14 million. On average, analysts anticipate that Hafnia Limited will post 1.6 EPS for the current fiscal year.

Hafnia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a $0.4049 dividend. This represents a $1.62 annualized dividend and a dividend yield of 24.80%. This is a positive change from Hafnia’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, September 3rd. Hafnia’s dividend payout ratio (DPR) is presently 103.19%.

Institutional Trading of Hafnia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HAFN. Mondrian Investment Partners LTD bought a new position in shares of Hafnia during the 2nd quarter worth $43,000. Allspring Global Investments Holdings LLC bought a new stake in Hafnia during the second quarter valued at about $60,000. Prudential PLC purchased a new position in shares of Hafnia in the 2nd quarter worth approximately $100,000. TD Asset Management Inc bought a new position in shares of Hafnia during the 2nd quarter worth approximately $148,000. Finally, XTX Topco Ltd purchased a new position in Hafnia in the second quarter worth $183,000.

Hafnia Company Profile

(Get Free Report)

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.

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