Hafnia Limited (NYSE:HAFN) Stock Short Interest Report for September

Key Points

• Hafnia’s short interest surged 218.2% to 3.71 million shares as of September 30, representing 0.7% of shares outstanding and a short-interest ratio of 1.1 days.
• The company exceeded quarterly earnings expectations, reporting $0.56 in EPS versus a $0.54 consensus estimate and $834.53 million in revenue. Hafnia also raised its quarterly dividend to $0.5003, implying an annualized yield of 18.7%.
• Analyst sentiment remained positive, with multiple firms upgrading Hafnia or raising price targets; the stock carried an average “Buy” rating and a $12.00 consensus price target.

Hafnia Limited (NYSE:HAFN - Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 3,710,731 shares, a growth of 218.2% from the September 15th total of 1,166,186 shares. Based on an average trading volume of 3,525,242 shares, the short-interest ratio is currently 1.1 days. Currently, 0.7% of the company's stock are sold short.

Hafnia Stock Performance

Hafnia stock opened at $10.71 on Monday. Hafnia has a twelve month low of $5.17 and a twelve month high of $10.90. The company has a market capitalization of $5.49 billion, a P/E ratio of 8.11 and a beta of 0.52. The stock's 50 day moving average is $8.82 and its 200 day moving average is $8.19. The company has a quick ratio of 1.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.25.

Hafnia (NYSE:HAFN - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $834.53 million during the quarter, compared to the consensus estimate of $394.57 million. Hafnia had a return on equity of 26.74% and a net margin of 56.72%.

Hafnia Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th were issued a $0.5003 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 18.7%. The ex-dividend date of this dividend was Tuesday, September 8th. This is a positive change from Hafnia's previous quarterly dividend of $0.2877. Hafnia's dividend payout ratio is 151.52%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HAFN. Pareto Securities raised Hafnia from a "hold" rating to a "buy" rating in a research report on Tuesday, September 29th. Weiss Ratings upgraded Hafnia from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, September 21st. BTIG Research lifted their price target on Hafnia from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, September 18th. Finally, Wall Street Zen cut Hafnia from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $12.00.

Institutional Investors Weigh In On Hafnia

Large investors have recently added to or reduced their stakes in the stock. MHR Fund Management LLC grew its stake 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 purchasing an additional 1,309,938 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Hafnia by 0.5% in the first 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 period. Assenagon Asset Management S.A. purchased a new stake in Hafnia in the 1st quarter worth $32,205,000. Bank of New York Mellon Corp boosted its stake in shares of Hafnia by 1.3% in 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 acquiring an additional 22,351 shares during the period. Finally, Bank of America Corp DE grew its position in shares of 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.

Hafnia Company Profile

Hafnia Limited is a maritime transportation company that owns and operates product tankers. The company transports refined petroleum products, vegetable oils, and other liquid bulk commodities for customers around the world.

Its fleet serves several segments of the product tanker market, including vessels used to carry cargoes over regional and long-haul routes. In addition to vessel ownership, Hafnia provides commercial management, chartering, pool management, and technical and operational services designed to support the transportation of liquid products.

Hafnia is headquartered in Singapore and operates globally, serving major energy, commodities, and industrial markets.

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