Hafnia (NYSE:HAFN) Shares Gap Down - Should You Sell?

Key Points

• Hafnia shares opened lower, falling from a prior close of $10.12 to $9.75 before recovering to around $10.06, a decline of roughly 2.9%.
• Analyst sentiment remains positive overall, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $12.00; BTIG recently raised its target from $10 to $12.
• Hafnia exceeded quarterly earnings expectations, reporting $0.56 per share versus $0.54 expected, and increased its quarterly dividend to $0.5003, implying a 20.4% yield. However, its annualized payout ratio is high at 151.52%.

Hafnia Limited (NYSE:HAFN - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $10.12, but opened at $9.75. Hafnia shares last traded at $10.0550, with a volume of 396,100 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Pareto Securities cut Hafnia to a "hold" rating in a research note on Wednesday, May 27th. Weiss Ratings raised shares of Hafnia from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, September 3rd. Wall Street Zen upgraded shares of Hafnia from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 30th. Finally, BTIG Research increased their price target on shares of Hafnia from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Hafnia presently has an average rating of "Moderate Buy" and an average target price of $12.00.

Hafnia Trading Down 2.9%

The company has a 50 day simple moving average of $8.13 and a 200 day simple moving average of $7.91. The company has a current ratio of 1.66, a quick ratio of 1.49 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $5.04 billion, a PE ratio of 7.45 and a beta of 0.65.

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

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 8th were given a $0.5003 dividend. This is a positive change from Hafnia's previous quarterly dividend of $0.29. The ex-dividend date was Tuesday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 20.4%. Hafnia's payout ratio is 151.52%.

Hedge Funds Weigh In On Hafnia

Institutional investors have recently bought and sold shares of the company. Pictet Asset Management Holding SA lifted its holdings in Hafnia by 1.8% in the first quarter. Pictet Asset Management Holding SA now owns 91,384 shares of the company's stock valued at $700,000 after acquiring an additional 1,650 shares during the period. Amundi grew its stake in shares of Hafnia by 5.4% during the 1st quarter. Amundi now owns 67,213 shares of the company's stock worth $511,000 after purchasing an additional 3,465 shares during the period. Quantinno Capital Management LP grew its stake in shares of Hafnia by 7.0% during the 1st quarter. Quantinno Capital Management LP now owns 55,859 shares of the company's stock worth $425,000 after purchasing an additional 3,639 shares during the period. Aristides Capital LLC increased its holdings in shares of Hafnia by 12.9% in the 1st quarter. Aristides Capital LLC now owns 37,882 shares of the company's stock valued at $288,000 after purchasing an additional 4,334 shares in the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of Hafnia in the first quarter valued at about $48,000.

About Hafnia

Hafnia Limited is a global maritime transportation company focused on the ownership and operation of product tankers. The company transports refined petroleum products, chemicals, and vegetable and animal oils for energy companies, commodity traders, and industrial customers.

Its activities include commercial management, chartering, vessel operations, and technical management. Hafnia operates across major international shipping routes and serves customers in key energy and commodity markets worldwide.

Hafnia is headquartered in Singapore and is part of the BW Group.

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