Hafnia (NYSE:HAFN) Shares Gap Down – What’s Next?

Shares of Hafnia Limited (NYSE:HAFN) gapped down prior to trading on Monday . The stock had previously closed at $6.20, but opened at $5.98. Hafnia shares last traded at $6.04, with a volume of 730,759 shares changing hands.

Hafnia Stock Down 2.1 %

The firm has a 50 day simple moving average of $7.32 and a two-hundred day simple moving average of $7.74. The company has a quick ratio of 1.33, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $3.08 billion and a P/E ratio of 3.87.

Hafnia (NYSE:HAFN) last issued its earnings results on Friday, August 23rd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.42 by $0.09. The firm had revenue of $417.36 million during the quarter, compared to the consensus estimate of $387.14 million. Hafnia had a return on equity of 34.28% and a net margin of 47.30%. On average, equities research analysts expect that Hafnia Limited will post 1.6 earnings per share for the current year.

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were given a dividend of $0.4049 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.62 dividend on an annualized basis and a yield of 26.68%. This is a positive change from Hafnia’s previous quarterly dividend of $0.34. Hafnia’s payout ratio is currently 103.19%.

Institutional Inflows and Outflows

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

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.