Hafnia (NYSE:HAFN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Hafnia from “buy” to “strong buy,” while other analysts also raised their ratings or price targets. The stock has an overall “Buy” consensus rating and an average price target of $12.00.
• Hafnia shares opened at $10.89, near their 52-week high of $11.11, with a $5.58 billion market capitalization. The company reported quarterly EPS of $0.56, beating estimates of $0.54, alongside $834.53 million in revenue.
• Several institutional investors increased their Hafnia holdings, including Bank of America, which boosted its position by 175%, and CWA Asset Management Group, which increased its stake by 46.6%.

Hafnia (NYSE:HAFN - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday, Wall Street Zen reports.

Other research analysts have also issued research reports about the stock. BTIG Research upped their price target on shares of Hafnia from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Friday, September 18th. Weiss Ratings raised shares of Hafnia from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, September 21st. Finally, Pareto Securities upgraded shares of Hafnia from a "hold" rating to a "buy" rating in a research note on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $12.00.

Hafnia Price Performance

Shares of NYSE HAFN opened at $10.89 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.49 and a current ratio of 1.66. The company has a market cap of $5.58 billion, a PE ratio of 8.38 and a beta of 0.52. The business has a 50-day simple moving average of $9.68 and a two-hundred day simple moving average of $8.01. Hafnia has a fifty-two week low of $5.17 and a fifty-two week high of $11.11.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HAFN. Arrowstreet Capital Limited Partnership increased its stake in shares of Hafnia by 0.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,797,281 shares of the company's stock valued at $82,532,000 after purchasing an additional 54,525 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Hafnia by 1.3% during the first 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 in the last quarter. CWA Asset Management Group LLC boosted its position in Hafnia by 46.6% during the third quarter. CWA Asset Management Group LLC now owns 739,605 shares of the company's stock worth $7,352,000 after purchasing an additional 235,043 shares in the last quarter. Bank of America Corp DE boosted its position in Hafnia by 175.0% during the first quarter. Bank of America Corp DE now owns 571,705 shares of the company's stock worth $4,345,000 after purchasing an additional 363,821 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Hafnia in the second quarter valued at approximately $2,307,000.

About Hafnia

Hafnia Limited is a global owner and operator of product tankers that transport refined petroleum products, chemicals, and vegetable oils. The company provides maritime transportation services to energy companies, commodity traders, and industrial customers through a fleet of vessels serving international shipping routes.

In addition to owning and operating tankers, Hafnia offers commercial management, chartering, pool management, and technical and operational services. Its activities span the transportation of clean petroleum products, including gasoline, diesel, and jet fuel, as well as other liquid cargoes.

Hafnia is headquartered in Singapore and operates internationally, with activities and offices serving major energy and shipping markets.

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