Hafnia (HFIAF) was Upgraded to a Hold Rating at Cleaves Securities

By Austin Angelo

Cleaves Securities analyst Joakim Hannisdahl upgraded Hafnia (HFIAFResearch Report) to Hold on October 13 and set a price target of NOK12.00. The company’s shares closed last Tuesday at $1.60.

According to TipRanks.com, Hannisdahl is a 4-star analyst with an average return of 3.5% and a 56.6% success rate. Hannisdahl covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Eagle Bulk Shipping.

The word on The Street in general, suggests a Hold analyst consensus rating for Hafnia with a $1.30 average price target.

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Based on Hafnia’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $269 million and net profit of $97.73 million. In comparison, last year the company earned revenue of $201 million and had a net profit of $11.99 million.

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Hafnia Ltd is a shipping company. It provides transportation of oil and oil products and also owns and operates oil product tankers. It offers fleet and bunkers services. The group operates through four segments namely LR2 Product Tankers, LR1 Product Tankers, MR Product Tankers, and Handy segment. It generates maximum revenue from the MR Product Tankers segment.