Hafnia (NYSE:HAFN) Given New $12.00 Price Target at BTIG Research

Key Points

• BTIG Research raised Hafnia’s price target to $12.00 from $10.00 and maintained a “buy” rating, implying approximately 23.65% upside from the prior close.
• Analyst sentiment is broadly positive, with Hafnia carrying a “Moderate Buy” consensus rating and an average target price of $12.00, despite one recent downgrade to “hold.”
• Hafnia reported quarterly EPS of $0.56, exceeding the $0.54 consensus estimate, while revenue reached $834.53 million versus expectations of $394.57 million.

Hafnia (NYSE:HAFN - Get Free Report) had its price target upped by analysts at BTIG Research from $10.00 to $12.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's price objective points to a potential upside of 23.65% from the company's previous close.

A number of other research analysts have also weighed in on the stock. Wall Street Zen raised shares of Hafnia from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 30th. Weiss Ratings upgraded shares of Hafnia from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, September 3rd. Finally, Pareto Securities cut shares of Hafnia to a "hold" rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Hafnia has a consensus rating of "Moderate Buy" and an average target price of $12.00.

Hafnia Trading Down 0.1%

Shares of Hafnia stock opened at $9.71 on Friday. The company has a market capitalization of $4.97 billion, a P/E ratio of 7.35 and a beta of 0.65. The stock has a fifty day simple moving average of $8.08 and a 200 day simple moving average of $7.90. Hafnia has a 12-month low of $5.17 and a 12-month high of $9.86. The company has a current ratio of 1.66, a quick ratio of 1.49 and a debt-to-equity ratio of 0.25.

Hafnia (NYSE:HAFN - Get Free Report) last issued its quarterly earnings data on Saturday, August 29th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. Hafnia had a return on equity of 26.74% and a net margin of 56.72%.The business had revenue of $834.53 million for the quarter, compared to analysts' expectations of $394.57 million.

Hedge Funds Weigh In On Hafnia

A number of hedge funds and other institutional investors have recently made changes to their positions in HAFN. MHR Fund Management LLC grew its position in shares of Hafnia by 7.6% during the 4th quarter. MHR Fund Management LLC now owns 18,496,652 shares of the company's stock valued at $98,587,000 after acquiring an additional 1,309,938 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Hafnia by 0.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,797,281 shares of the company's stock worth $82,532,000 after purchasing an additional 54,525 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Hafnia during the 1st quarter worth approximately $32,205,000. Bank of New York Mellon Corp raised its holdings in shares of Hafnia by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,681,217 shares of the company's stock worth $12,777,000 after purchasing an additional 22,351 shares during the period. Finally, Corigliano Investment Advisers LLC raised its holdings in shares of Hafnia by 98.5% in the 4th quarter. Corigliano Investment Advisers LLC now owns 663,093 shares of the company's stock worth $3,534,000 after purchasing an additional 329,093 shares during the period.

Hafnia Company Profile

Hafnia Limited is a global maritime transportation company focused on the ownership and operation of product tankers. The company transports refined petroleum products, chemicals, and vegetable and animal oils for energy companies, commodity traders, and industrial customers.

Its activities include commercial management, chartering, vessel operations, and technical management. Hafnia operates across major international shipping routes and serves customers in key energy and commodity markets worldwide.

Hafnia is headquartered in Singapore and is part of the BW Group.

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