Hafnia (NYSE:HAFN) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Hafnia Limited (NYSE:HAFN) saw unusually-strong trading volume on Tuesday . Approximately 818,711 shares changed hands during mid-day trading, an increase of 61% from the previous session’s volume of 510,010 shares.The stock last traded at $5.95 and had previously closed at $6.06.

Hafnia Price Performance

The firm has a 50-day simple moving average of $7.28 and a 200-day simple moving average of $7.72. The firm has a market capitalization of $2.98 billion and a PE ratio of 3.77. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 1.33.

Hafnia (NYSE:HAFN) last posted its quarterly earnings data on Friday, August 23rd. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. The company had revenue of $417.36 million for the quarter, compared to the consensus estimate of $387.14 million. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. As a group, equities analysts forecast that Hafnia Limited will post 1.6 earnings per share for the current 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 27.54%. This is a positive change from Hafnia’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, September 3rd. Hafnia’s dividend payout ratio is 103.18%.

Hedge Funds Weigh In On Hafnia

Institutional investors and hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale raised its stake in Hafnia by 10.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock worth $21,350,000 after acquiring an additional 290,000 shares during the period. U S Global Investors Inc. bought a new stake in shares of Hafnia during the 3rd quarter valued at $333,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Hafnia by 654.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 54,143 shares of the company’s stock valued at $386,000 after buying an additional 46,963 shares in the last quarter. Glenorchy Capital Ltd bought a new position in Hafnia in the 3rd quarter worth $726,000. Finally, Susquehanna International Group Ltd. purchased a new stake in Hafnia in the 2nd quarter worth $527,000.

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.