Hafnia (NYSE:HAFN) Sees Large Volume Increase – Still a Buy?

Hafnia Limited (NYSE:HAFN) shares saw an uptick in trading volume on Wednesday . 1,172,531 shares traded hands during trading, an increase of 98% from the previous session’s volume of 590,947 shares.The stock last traded at $5.24 and had previously closed at $5.17.

Hafnia Stock Performance

The firm has a 50 day simple moving average of $6.78 and a 200-day simple moving average of $7.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 1.33. The company has a market cap of $2.65 billion and a price-to-earnings ratio of 3.33.

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

Hafnia Increases Dividend

The company 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. The ex-dividend date was Tuesday, September 3rd. This is a boost from Hafnia’s previous quarterly dividend of $0.34. This represents a $1.62 dividend on an annualized basis and a dividend yield of 30.97%. Hafnia’s payout ratio is presently 103.19%.

Institutional Investors Weigh In On Hafnia

A number of institutional investors have recently modified their holdings of HAFN. Mondrian Investment Partners LTD acquired a new stake in shares of Hafnia in the 2nd quarter valued at about $43,000. Allspring Global Investments Holdings LLC purchased a new stake in Hafnia during the 2nd quarter valued at approximately $60,000. Prudential PLC purchased a new stake in Hafnia during the 2nd quarter valued at approximately $100,000. TD Asset Management Inc purchased a new stake in Hafnia during the 2nd quarter valued at approximately $148,000. Finally, XTX Topco Ltd purchased a new stake in Hafnia during the 2nd quarter valued at 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.