Hafnia (NYSE:HAFN) Shares Gap Down - Time to Sell?

Hafnia Limited (NYSE:HAFN - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $5.45, but opened at $5.20. Hafnia shares last traded at $5.25, with a volume of 424,961 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Fearnley Fonds raised Hafnia to a "strong-buy" rating in a research report on Tuesday, May 6th.

Hafnia Price Performance

The stock has a market capitalization of $2.57 billion, a P/E ratio of 4.19 and a beta of 0.95. The business's 50 day simple moving average is $5.07 and its two-hundred day simple moving average is $4.96. The company has a quick ratio of 1.12, a current ratio of 1.24 and a debt-to-equity ratio of 0.30.

Hafnia (NYSE:HAFN - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $340.34 million for the quarter, compared to analysts' expectations of $250.80 million. Hafnia had a net margin of 45.74% and a return on equity of 26.29%.

Hafnia Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, June 4th. Investors of record on Monday, May 26th were given a dividend of $0.1015 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a dividend yield of 7.59%. Hafnia's payout ratio is 33.88%.

Institutional Investors Weigh In On Hafnia

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new stake in shares of Hafnia in the 4th quarter worth $1,472,000. Wells Fargo & Company MN boosted its holdings in Hafnia by 7,756.1% during the fourth quarter. Wells Fargo & Company MN now owns 18,776 shares of the company's stock worth $105,000 after purchasing an additional 18,537 shares during the last quarter. Virtu Financial LLC bought a new stake in Hafnia in the 4th quarter worth about $117,000. Wellington Management Group LLP purchased a new stake in Hafnia in the 4th quarter valued at about $668,000. Finally, Amundi bought a new position in shares of Hafnia during the 4th quarter worth approximately $159,000.

Hafnia Company Profile

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.