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

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

Wall Street Analyst Weigh In

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

Hafnia Stock Up 3.4 %

Shares of HAFN traded up $0.18 on Thursday, hitting $5.41. 2,018,513 shares of the stock traded hands, compared to its average volume of 605,563. The company has a market capitalization of $2.74 billion and a PE ratio of 3.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.49. The business has a 50 day simple moving average of $6.74 and a 200 day simple moving average of $7.56. Hafnia has a one year low of $5.13 and a one year high of $8.99.

Hafnia (NYSE:HAFN) last posted its earnings results on Friday, August 23rd. The company reported $0.51 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $387.14 million. As a group, equities analysts forecast that Hafnia will post 1.59 earnings per share for the current fiscal year.

Hafnia Increases Dividend

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

Institutional Trading of Hafnia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Infrastructure Capital Advisors LLC purchased a new position in shares of Hafnia in the third quarter worth $119,000. Bank of Montreal Can purchased a new position in shares of Hafnia in the third quarter worth $3,774,000. Mirabella Financial Services LLP purchased a new position in shares of Hafnia in the third quarter worth $3,175,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Hafnia in the third quarter worth $242,000. Finally, Sigma Planning Corp purchased a new position in shares of Hafnia in the third quarter worth $202,000.

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.