Hafnia (NYSE:HAFN) Rating Lowered to Hold at Fearnley Fonds

Key Points

• Hafnia's stock rating was downgraded from a "strong-buy" to a "hold" by Fearnley Fonds, reflecting a shift in analyst sentiment.
• The company's recent earnings report showed an EPS of $0.15, beating analyst expectations of $0.14, with revenues reaching $346.56 million.
• Hafnia operates a fleet of approximately 200 vessels that transport refined oil products and chemicals globally.

Hafnia (NYSE:HAFN - Get Free Report) was downgraded by equities research analysts at Fearnley Fonds from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Hafnia Trading Down 1.7%

Shares of HAFN stock traded down $0.11 on Wednesday, reaching $6.21. 696,831 shares of the stock were exchanged, compared to its average volume of 2,028,333. The stock has a 50 day moving average price of $5.58 and a 200 day moving average price of $5.01. The stock has a market cap of $3.14 billion, a PE ratio of 7.30 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.21 and a quick ratio of 1.09. Hafnia has a one year low of $3.61 and a one year high of $7.84.

Hafnia (NYSE:HAFN - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. The business had revenue of $346.56 million during the quarter, compared to the consensus estimate of $249.42 million. Hafnia had a return on equity of 18.74% and a net margin of 37.26%.

Institutional Investors Weigh In On Hafnia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Hafnia by 1.4% in the first quarter. Vanguard Group Inc. now owns 11,267,262 shares of the company's stock valued at $46,466,000 after purchasing an additional 153,284 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Hafnia by 62.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,130,888 shares of the company's stock worth $8,738,000 after acquiring an additional 817,737 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Hafnia by 6.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,773,846 shares of the company's stock worth $9,488,000 after acquiring an additional 106,567 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Hafnia by 2,389.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 827,583 shares of the company's stock worth $4,130,000 after acquiring an additional 794,334 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Hafnia in the fourth quarter worth about $4,376,000.

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.