Hafnia (NYSE:HAFN) Sets New 52-Week Low – Time to Sell?

Hafnia Limited (NYSE:HAFN)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $5.17 and last traded at $5.20, with a volume of 316693 shares trading hands. The stock had previously closed at $5.34.

Hafnia Stock Down 3.7 %

The firm has a fifty day moving average price of $6.83 and a 200-day moving average price of $7.59. The firm has a market cap of $2.61 billion and a price-to-earnings ratio of 3.40. The company has a quick ratio of 1.33, a current ratio of 1.49 and a debt-to-equity ratio of 0.33.

Hafnia (NYSE:HAFN) last announced its earnings results on Friday, August 23rd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.09. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. The business had revenue of $417.36 million during the quarter, compared to the consensus estimate of $387.14 million. As a group, sell-side analysts forecast that Hafnia Limited will post 1.59 EPS for the current year.

Hafnia Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.4049 per share. This represents a $1.62 dividend on an annualized basis and a yield of 31.51%. This is a positive change from Hafnia’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, September 3rd. Hafnia’s payout ratio is presently 103.19%.

Institutional Investors Weigh In On Hafnia

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mondrian Investment Partners LTD bought a new position in shares of Hafnia in the second quarter valued at approximately $43,000. Allspring Global Investments Holdings LLC bought a new position in Hafnia during the second quarter worth about $60,000. Prudential PLC acquired a new position in Hafnia during the second quarter worth $100,000. TD Asset Management Inc bought a new stake in Hafnia during the second quarter worth about $148,000. Finally, XTX Topco Ltd bought a new stake 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.