Hafnia (NYSE:HAFN) Reaches New 52-Week Low After Analyst Downgrade

Hafnia Limited (NYSE:HAFN) shares hit a new 52-week low on Tuesday after Jefferies Financial Group lowered their price target on the stock from $8.00 to $6.50. Jefferies Financial Group currently has a buy rating on the stock. Hafnia traded as low as $5.06 and last traded at $5.06, with a volume of 233568 shares changing hands. The stock had previously closed at $5.25.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in shares of Hafnia during the second quarter valued at approximately $2,421,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Hafnia in the second quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Hafnia during the 2nd quarter valued at approximately $528,000. TD Asset Management Inc purchased a new stake in shares of Hafnia during the 2nd quarter worth approximately $148,000. Finally, Acadian Asset Management LLC bought a new stake in Hafnia in the second quarter worth $107,651,000.

Hafnia Price Performance

The company has a current ratio of 1.70, a quick ratio of 1.52 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $5.89 and its 200-day moving average price is $7.10. The stock has a market capitalization of $2.56 billion and a PE ratio of 3.09.

Hafnia Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, December 6th will be paid a $0.379 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 29.96%. The ex-dividend date is Friday, December 6th. Hafnia’s dividend payout ratio (DPR) is presently 88.82%.

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.