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

Hafnia Limited (NYSE:HAFN) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.26, but opened at $5.41. Hafnia shares last traded at $5.41, with a volume of 390,212 shares changing hands.

Analysts Set New Price Targets

Separately, Jefferies Financial Group decreased their price objective on shares of Hafnia from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

Hafnia Stock Performance

The company has a 50-day simple moving average of $6.10 and a two-hundred day simple moving average of $7.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70. The firm has a market capitalization of $2.80 billion and a P/E ratio of 3.10.

Hafnia Cuts Dividend

The company also recently declared 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. The ex-dividend date is Friday, December 6th. This represents a $1.52 annualized dividend and a yield of 27.46%. Hafnia’s payout ratio is 88.82%.

Hedge Funds Weigh In On Hafnia

Several institutional investors and hedge funds have recently added to or reduced their stakes in HAFN. DGS Capital Management LLC bought a new position in shares of Hafnia in the 3rd quarter worth about $121,000. Tidal Investments LLC bought a new stake in shares of Hafnia in the 3rd quarter worth $198,000. Barclays PLC raised its position in Hafnia by 72.7% in the 3rd quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock worth $19,580,000 after buying an additional 1,151,528 shares during the last quarter. XTX Topco Ltd lifted its stake in Hafnia by 625.6% during the 3rd quarter. XTX Topco Ltd now owns 158,583 shares of the company’s stock valued at $1,135,000 after acquiring an additional 136,727 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Hafnia by 671.7% in the third quarter. Jane Street Group LLC now owns 257,427 shares of the company’s stock worth $1,833,000 after acquiring an additional 224,070 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.