Hafnia (NYSE:HAFN) Sees Large Volume Increase – Here’s Why

Hafnia Limited (NYSE:HAFN) shares saw an uptick in trading volume on Wednesday . 718,313 shares traded hands during trading, an increase of 10% from the previous session’s volume of 650,520 shares.The stock last traded at $5.50 and had previously closed at $5.33.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group dropped their price target on shares of Hafnia from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

Hafnia Trading Up 6.2 %

The company has a quick ratio of 1.33, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average is $6.42 and its two-hundred day moving average is $7.40. The stock has a market cap of $2.87 billion and a price-to-earnings ratio of 3.39.

Hedge Funds Weigh In On Hafnia

Several institutional investors have recently bought and sold shares of HAFN. Acadian Asset Management LLC purchased a new stake in shares of Hafnia in the 2nd quarter worth about $107,651,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Hafnia by 10.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,056,334 shares of the company’s stock worth $21,350,000 after acquiring an additional 290,000 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Hafnia during the 2nd quarter worth about $24,514,000. Barclays PLC lifted its holdings in shares of Hafnia by 72.7% during the 3rd quarter. Barclays PLC now owns 2,734,506 shares of the company’s stock worth $19,580,000 after acquiring an additional 1,151,528 shares during the period. Finally, Bank of Montreal Can purchased a new position in shares of Hafnia during the 3rd quarter worth about $3,774,000.

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.