Hafnia Limited (NYSE:HAFN) Short Interest Up 58.7% in October

Hafnia Limited (NYSE:HAFN) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,730,000 shares, a growth of 58.7% from the October 15th total of 1,720,000 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 1,450,000 shares, the short-interest ratio is currently 1.9 days.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reduced their price target on shares of Hafnia from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday.

Institutional Trading of Hafnia

Large investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale boosted its stake in shares of Hafnia by 10.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock valued at $21,350,000 after purchasing an additional 290,000 shares during the period. Marshall Wace LLP purchased a new stake in Hafnia in the second quarter worth about $1,025,000. Glenorchy Capital Ltd purchased a new stake in Hafnia in the third quarter worth about $726,000. Acadian Asset Management LLC purchased a new stake in Hafnia in the second quarter worth about $107,651,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in Hafnia in the second quarter worth about $4,327,000.

Hafnia Price Performance

HAFN traded up $0.18 during trading hours on Thursday, hitting $5.41. The company’s stock had a trading volume of 2,018,513 shares, compared to its average volume of 605,563. The company has a current ratio of 1.49, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33. Hafnia has a 12 month low of $5.13 and a 12 month high of $8.99. The stock has a market cap of $2.74 billion and a price-to-earnings ratio of 3.45. The business’s 50-day moving average price is $6.74 and its 200-day moving average price is $7.56.

Hafnia (NYSE:HAFN) last posted its quarterly earnings data on Friday, August 23rd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Hafnia had a net margin of 47.30% and a return on equity of 34.28%. The business had revenue of $417.36 million for the quarter, compared to analysts’ expectations of $387.14 million. Sell-side analysts expect that Hafnia will post 1.59 earnings per share for the current fiscal year.

Hafnia Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.4049 per share. This is a boost from Hafnia’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.62 dividend on an annualized basis and a yield of 29.94%. Hafnia’s payout ratio is 103.18%.

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.