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

Hafnia Limited (NYSE:HAFN) shares gapped down prior to trading on Thursday . The stock had previously closed at $4.93, but opened at $4.35. Hafnia shares last traded at $4.37, with a volume of 3,028,330 shares traded.

Analyst Ratings Changes

Separately, Jefferies Financial Group reduced their price target on shares of Hafnia from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, December 17th.

Hafnia Stock Down 14.1 %

The company’s 50 day simple moving average is $5.38 and its 200-day simple moving average is $6.17. 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 has a market cap of $2.15 billion and a P/E ratio of 2.50.

Hafnia (NYSE:HAFN) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Hafnia had a return on equity of 36.90% and a net margin of 53.44%.

Institutional Investors Weigh In On Hafnia

Several hedge funds and other institutional investors have recently modified their holdings of HAFN. Arrowstreet Capital Limited Partnership boosted its position in shares of Hafnia by 125.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 11,754,312 shares of the company’s stock worth $64,223,000 after acquiring an additional 6,530,482 shares during the last quarter. Marshall Wace LLP lifted its stake in Hafnia by 1,775.4% in the fourth quarter. Marshall Wace LLP now owns 2,124,012 shares of the company’s stock worth $11,831,000 after purchasing an additional 2,010,753 shares during the last quarter. Barclays PLC grew its position in Hafnia by 60.7% in the 4th quarter. Barclays PLC now owns 4,395,133 shares of the company’s stock valued at $24,481,000 after acquiring an additional 1,660,627 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Hafnia in the 4th quarter valued at about $4,376,000. Finally, Assenagon Asset Management S.A. bought a new stake in Hafnia during the 4th quarter valued at $3,123,000.

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.