Hafnia (NYSE:HAFN) Stock Price Down 5.9% – Here’s What Happened

Hafnia Limited (NYSE:HAFN) shares dropped 5.9% on Thursday . The stock traded as low as $7.26 and last traded at $7.2750. Approximately 1,111,493 shares traded hands during trading, a decline of 37% from the average daily volume of 1,753,838 shares. The stock had previously closed at $7.73.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HAFN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hafnia in a report on Wednesday, May 6th. Dnb Carnegie lowered Hafnia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Pareto Securities lowered Hafnia to a “hold” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Hafnia from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hafnia presently has a consensus rating of “Moderate Buy”.

Hafnia Stock Down 5.8%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.48 and a current ratio of 1.60. The company has a fifty day moving average price of $8.30 and a 200-day moving average price of $6.97. The firm has a market capitalization of $3.73 billion, a PE ratio of 8.01 and a beta of 0.64.

Hafnia (NYSE:HAFN) last released its earnings results on Friday, May 15th. The company reported $0.36 earnings per share for the quarter. The firm had revenue of $688.87 million for the quarter. Hafnia had a return on equity of 19.20% and a net margin of 44.74%.

Hafnia Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.2877 per share. This is a boost from Hafnia’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.15 annualized dividend and a yield of 15.8%. Hafnia’s payout ratio is 76.92%.

Insider Buying and Selling

In related news, CEO Mikael Opstun Skov sold 500,000 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $8.11, for a total transaction of $4,055,000.00. Following the completion of the sale, the chief executive officer owned 1,130,978 shares of the company’s stock, valued at $9,172,231.58. This represents a 30.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Echtelt Petrus Wouter Van sold 90,000 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $8.22, for a total value of $739,800.00. Following the sale, the chief financial officer owned 91,994 shares in the company, valued at approximately $756,190.68. The trade was a 49.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,090,000 shares of company stock valued at $8,854,800 in the last three months.

Institutional Trading of Hafnia

A number of institutional investors and hedge funds have recently made changes to their positions in HAFN. Kestra Advisory Services LLC purchased a new stake in shares of Hafnia in the fourth quarter valued at approximately $36,000. Royal Bank of Canada lifted its holdings in Hafnia by 504.8% in the fourth quarter. Royal Bank of Canada now owns 7,185 shares of the company’s stock valued at $38,000 after acquiring an additional 5,997 shares during the last quarter. Smartleaf Asset Management LLC purchased a new position in Hafnia in the fourth quarter valued at approximately $47,000. Blue Trust Inc. purchased a new stake in Hafnia during the first quarter worth $48,000. Finally, GC Wealth Management RIA LLC acquired a new stake in shares of Hafnia in the fourth quarter worth $53,000.

Hafnia Company Profile

Hafnia is a global shipping company listed on the New York Stock Exchange under the ticker HAFN. The firm specializes in the marine transportation of refined petroleum products, providing safe and reliable shipping solutions across key global trade lanes. Its core operations focus on the carriage of gasoline, diesel, jet fuel and other clean petroleum products, catering to the needs of oil majors, trading houses and independent refiners.

The company operates a modern fleet of double-hulled product tankers, managed to comply with stringent safety and environmental standards.