Hafnia (NYSE:HAFN) Shares Gap Up - Time to Buy?

Hafnia Limited (NYSE:HAFN - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $4.72, but opened at $4.93. Hafnia shares last traded at $4.94, with a volume of 296,106 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Fearnley Fonds upgraded Hafnia to a "strong-buy" rating in a report on Tuesday.

Hafnia Stock Performance

The company's fifty day moving average price is $4.35 and its two-hundred day moving average price is $5.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.52 and a current ratio of 1.70. The firm has a market capitalization of $2.56 billion and a PE ratio of 2.97.

Hafnia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, March 7th were paid a dividend of $0.0294 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.12 annualized dividend and a dividend yield of 2.33%. Hafnia's dividend payout ratio is presently 7.28%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Hafnia by 1.4% in the 1st 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 in the last quarter. GSA Capital Partners LLP purchased a new stake in Hafnia during the first quarter worth approximately $986,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Hafnia by 17.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 94,299 shares of the company's stock worth $387,000 after acquiring an additional 14,284 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Hafnia by 38.5% in the 1st quarter. TD Asset Management Inc now owns 28,406 shares of the company's stock valued at $116,000 after acquiring an additional 7,892 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Hafnia by 8.5% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 33,249 shares of the company's stock valued at $138,000 after acquiring an additional 2,591 shares in the last quarter.

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.