Symbols / HAFN Stock $8.44 -0.47% Hafnia Limited

Industrials • Marine Shipping • Singapore • NYQ
HAFN (Stock) Chart
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Stock Fundamentals
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Index EQUITY
Sector Industrials
Industry Marine Shipping
CEO Mr. Mikael Opstun Skov
Exch · Country NYQ · Singapore
Market Cap 4.22B
Enterprise Value 5.22B
Income 339.68M
Sales 2.28B
FCF (ttm) 257.64M
Book/sh 4.68
Cash/sh 0.21
Employees 4,876
Insider 10d
IPO Apr 10, 2024
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 59.54%
P/E 12.60
Forward P/E 13.19
PEG
P/S 1.85
P/B 1.80
P/C
EV/EBITDA 10.60
EV/Sales 2.29
Quick Ratio 0.97
Current Ratio 1.48
Debt/Eq 48.20
LT Debt/Eq
EPS (ttm) 0.67
EPS next Y 0.64
EPS Growth 42.20%
Revenue Growth 11.30%
EPS Gr Q/Q 37.70%
Rev Gr Q/Q
Earnings (next) 2026-05-27
Earnings (prior) 2025-12-01
ROA 5.95%
ROE 14.79%
ROIC
Gross Margin 28.06%
Oper. Margin 16.93%
Profit Margin 14.89%
Shs Outstand 499.78M
Shs Float 237.86M
Insider Own 46.06%
Instit Own 35.83%
Short Float 7.02%
Short Ratio 1.71
Short Interest 3.20M
52W High 8.57
vs 52W High -1.52%
52W Low 4.45
vs 52W Low 89.88%
Beta -0.20
Impl. Vol. 56.06%
Rel Volume 0.85
Avg Volume 1.88M
Volume 1.60M
Target (mean) $10.00
Tgt Median $10.00
Tgt Low $10.00
Tgt High $10.00
# Analysts 1
Recom None
Prev Close $8.48
Price $8.44
Change -0.47%
About

Hafnia Limited., an investment holding company, owns and operates oil product tankers in Bermuda. It operates through Long Range II, Long Range I, Medium Range (MR), and Handy Size 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. It also engages in ship owning, chartering, and provision of maritime services in the product and chemical tankers market. The company was formerly known as BW Tankers Limited and changed its name to Hafnia Limited. In January 2019. Hafnia Limited was founded in 2010 and is based in Singapore.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus Mean price target
2. Current target Latest analyst target
3. DCF / Fair value Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$8.44
Low
$10.00
High
$10.00
Mean
$10.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2024-12-17 main Jefferies Buy → Buy $7
2024-11-14 main Jefferies Buy → Buy $8
2024-04-12 init BTIG — → Buy $10
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-13 Skov (Mikael Oepstun) Chief Executive Officer 500,000 $60.50 $30,251,750
2026-04-10 Skov (Mikael Oepstun) Chief Executive Officer 500,000 $60.52 $30,260,850
2025-01-20 Castel AS Institution- Corporation 1,182,931 $44.01 $52,061,266
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
2,281.91
-20.45%
2,868.65
+7.37%
2,671.71
+38.68%
1,926.55
Operating Revenue
2,281.91
-20.45%
2,868.65
+7.37%
2,671.71
+38.68%
1,926.55
Cost Of Revenue
1,843.70
-8.68%
2,019.02
+10.96%
1,819.57
+67.53%
1,086.13
Reconciled Cost Of Revenue
1,843.70
-8.68%
2,019.02
+10.96%
1,819.57
+67.53%
1,086.13
Gross Profit
438.21
-48.42%
849.63
-0.29%
852.14
+1.39%
840.42
Operating Expense
80.86
+11.64%
72.42
+44.04%
50.28
+17.78%
42.69
Selling General And Administration
50.45
-0.30%
50.60
+18.19%
42.82
+13.37%
37.77
General And Administrative Expense
50.45
-0.30%
50.60
+18.19%
42.82
+13.37%
37.77
Salaries And Wages
50.45
-0.30%
50.60
+18.19%
42.82
+13.37%
37.77
Other Operating Expenses
30.40
+39.34%
21.82
+192.36%
7.46
+51.56%
4.92
Total Expenses
1,924.56
-7.98%
2,091.44
+11.85%
1,869.85
+65.65%
1,128.82
Operating Income
357.35
-54.02%
777.21
-3.07%
801.86
+0.52%
797.73
Total Operating Income As Reported
369.59
-54.13%
805.73
-6.09%
857.95
+4.22%
823.21
EBITDA
594.07
-43.20%
1,045.94
-3.86%
1,087.94
+2.77%
1,058.58
Normalized EBITDA
584.56
-42.66%
1,019.49
-1.76%
1,037.74
+0.21%
1,035.56
Reconciled Depreciation
202.13
-6.04%
215.11
+1.94%
211.03
+0.86%
209.22
EBIT
391.94
-52.82%
830.83
-5.26%
876.91
+3.24%
849.36
Total Unusual Items
9.52
-64.02%
26.45
-47.30%
50.19
+118.06%
23.02
Total Unusual Items Excluding Goodwill
9.52
-64.02%
26.45
-47.30%
50.19
+118.06%
23.02
Special Income Charges
9.52
-64.02%
26.45
-47.30%
50.19
+118.06%
23.02
Other Special Charges
2.72
+31.46%
2.07
-64.90%
5.89
+139.11%
2.46
Write Off
2.07
-64.90%
5.89
+139.11%
2.46
Net Income
339.68
-56.12%
774.03
-2.43%
793.27
+5.55%
751.59
Pretax Income
342.18
-56.04%
778.45
-2.64%
799.53
+5.44%
758.27
Net Non Operating Interest Income Expense
-41.88
+8.40%
-45.72
+36.15%
-71.60
+17.35%
-86.63
Interest Expense Non Operating
49.77
-4.98%
52.38
-32.32%
77.39
-15.05%
91.09
Net Interest Income
-41.88
+8.40%
-45.72
+36.15%
-71.60
+17.35%
-86.63
Interest Expense
49.77
-4.98%
52.38
-32.32%
77.39
-15.05%
91.09
Interest Income Non Operating
13.50
-17.29%
16.32
-7.44%
17.63
+152.67%
6.98
Interest Income
13.50
-17.29%
16.32
-7.44%
17.63
+152.67%
6.98
Other Income Expense
26.71
-43.14%
46.97
-32.19%
69.27
+46.84%
47.17
Gain On Sale Of Business
2.09
Tax Provision
2.50
-43.53%
4.42
-29.32%
6.25
-6.39%
6.68
Tax Rate For Calcs
0.00
+28.49%
0.00
-27.41%
0.00
-11.23%
0.00
Tax Effect Of Unusual Items
0.07
-53.78%
0.15
-61.75%
0.39
+93.58%
0.20
Net Income Including Noncontrolling Interests
339.68
-56.12%
774.03
-2.43%
793.27
+5.55%
751.59
Net Income From Continuing Operation Net Minority Interest
339.68
-56.12%
774.03
-2.43%
793.27
+5.55%
751.59
Net Income From Continuing And Discontinued Operation
339.68
-56.12%
774.03
-2.43%
793.27
+5.55%
751.59
Net Income Continuous Operations
339.68
-56.12%
774.03
-2.43%
793.27
+5.55%
751.59
Normalized Income
330.24
-55.84%
747.73
+0.57%
743.47
+2.02%
728.77
Net Income Common Stockholders
339.68
-56.12%
774.03
-2.43%
793.27
+5.55%
751.59
Otherunder Preferred Stock Dividend
0.00
0.00
Diluted EPS
0.67
-55.33%
1.50
-3.85%
1.56
+1.30%
1.54
Basic EPS
0.68
-55.26%
1.52
-3.18%
1.57
+0.00%
1.57
Basic Average Shares
498.18
-2.34%
510.10
+0.98%
505.14
+5.70%
477.89
Diluted Average Shares
504.11
-2.13%
515.11
+1.26%
508.69
+4.01%
489.08
Diluted NI Availto Com Stockholders
339.68
-56.12%
774.03
-2.43%
793.27
+5.55%
751.59
Earnings From Equity Interest
17.19
-16.21%
20.52
+7.56%
19.07
-21.03%
24.15
Gain On Sale Of PPE
12.24
-57.10%
28.52
-49.15%
56.09
+120.10%
25.48
Rent Expense Supplemental
33.41
-31.10%
48.50
+40.28%
34.57
+4.27%
33.15
Total Other Finance Cost
5.61
-41.97%
9.66
-18.43%
11.85
+370.79%
2.52
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
3,811.90
+2.96%
3,702.29
-5.41%
3,913.94
-0.80%
3,945.34
Current Assets
843.95
-6.24%
900.08
-3.51%
932.84
+6.64%
874.79
Cash Cash Equivalents And Short Term Investments
103.61
-46.94%
195.27
+37.88%
141.62
-18.81%
174.44
Cash And Cash Equivalents
103.61
-46.94%
195.27
+37.88%
141.62
-18.81%
174.44
Cash Financial
103.61
-46.94%
195.27
+37.88%
141.62
-18.81%
174.44
Receivables
450.09
-7.71%
487.68
-14.21%
568.44
+18.05%
481.51
Accounts Receivable
322.69
-0.15%
323.18
-17.00%
389.38
+75.57%
221.78
Gross Accounts Receivable
322.69
-0.15%
323.18
-17.00%
389.38
+75.57%
221.78
Allowance For Doubtful Accounts Receivable
0.00
Receivables Adjustments Allowances
0.00
0.00
0.00
Other Receivables
127.39
-22.56%
164.50
-8.13%
179.05
-31.06%
259.73
Loans Receivable
46.00
Inventory
69.03
-26.69%
94.16
-12.58%
107.70
+19.76%
89.93
Raw Materials
107.70
+19.76%
89.93
Prepaid Assets
71.87
+344.75%
16.16
-24.04%
21.27
-1.52%
21.60
Restricted Cash
88.97
+0.76%
88.30
+9.14%
80.90
-23.60%
105.89
Assets Held For Sale Current
37.49
0.00
Hedging Assets Current
6.24
-50.50%
12.60
-2.33%
12.90
+806.04%
1.42
Other Current Assets
16.66
+181.55%
5.92
Total Non Current Assets
2,967.95
+5.91%
2,802.21
-6.00%
2,981.10
-2.91%
3,070.55
Net PPE
2,498.67
-4.18%
2,607.56
-6.12%
2,777.62
-3.44%
2,876.56
Gross PPE
3,839.13
-1.32%
3,890.51
-0.69%
3,917.72
-2.68%
4,025.76
Accumulated Depreciation
-1,340.45
-4.48%
-1,282.95
-12.53%
-1,140.10
+0.79%
-1,149.19
Machinery Furniture Equipment
3,772.85
-2.92%
3,886.39
Other Properties
195.12
+23.17%
158.42
+9.35%
144.87
+3.95%
139.37
Goodwill And Other Intangible Assets
0.08
-83.73%
0.51
-60.47%
1.29
-50.19%
2.59
Other Intangible Assets
0.51
-60.47%
1.29
-50.19%
2.59
Investments And Advances
395.40
+278.59%
104.44
+24.15%
84.12
+94.81%
43.18
Long Term Equity Investment
97.82
+20.22%
81.37
+35.23%
60.17
+52.88%
39.36
Other Investments
23.07
-3.69%
23.95
+526.22%
3.83
Non Current Deferred Assets
0.00
-100.00%
0.04
+0.00%
0.04
Non Current Deferred Taxes Assets
0.00
-100.00%
0.04
+0.00%
0.04
Non Current Prepaid Assets
1.32
0.00
Other Non Current Assets
10.00
-26.16%
13.54
+1.20%
13.38
+179.94%
4.78
Total Liabilities Net Minority Interest
1,482.31
+2.95%
1,439.78
-14.61%
1,686.22
-12.92%
1,936.34
Current Liabilities
571.91
-12.53%
653.83
-1.11%
661.19
+37.42%
481.16
Payables And Accrued Expenses
355.75
+12.72%
315.60
-19.82%
393.59
+144.53%
160.96
Payables
246.08
+24.63%
197.44
-29.18%
278.79
+370.96%
59.20
Accounts Payable
239.85
+24.00%
193.43
-12.06%
219.96
+429.93%
41.51
Other Payable
1.21
-0.90%
1.22
-94.16%
20.94
+233.67%
6.28
Current Accrued Expenses
109.67
-7.18%
118.15
+2.92%
114.80
+12.82%
101.76
Total Tax Payable
5.02
+82.05%
2.76
-66.01%
8.11
+71.23%
4.74
Income Tax Payable
5.02
+82.05%
2.76
-66.01%
8.11
+71.23%
4.74
Current Debt And Capital Lease Obligation
212.57
-36.79%
336.30
+25.80%
267.33
-16.49%
320.12
Current Debt
184.77
-26.84%
252.56
+45.14%
174.00
+66.54%
104.48
Other Current Borrowings
184.77
-26.84%
252.56
+45.14%
174.00
+66.54%
104.48
Current Capital Lease Obligation
27.80
-66.80%
83.74
-10.27%
93.32
-56.72%
215.64
Other Current Liabilities
0.16
-91.59%
1.94
+602.54%
0.28
+196.77%
0.09
Total Non Current Liabilities Net Minority Interest
910.40
+15.83%
785.95
-23.32%
1,025.02
-29.56%
1,455.17
Long Term Debt And Capital Lease Obligation
910.40
+15.83%
785.95
-23.32%
1,025.02
-29.56%
1,455.17
Long Term Debt
863.35
+167.44%
322.82
-18.99%
398.51
-36.48%
627.33
Long Term Capital Lease Obligation
47.05
-89.84%
463.13
-26.08%
626.52
-24.32%
827.85
Stockholders Equity
2,329.59
+2.96%
2,262.51
+1.56%
2,227.72
+10.89%
2,009.00
Common Stock Equity
2,329.59
+2.96%
2,262.51
+1.56%
2,227.72
+10.89%
2,009.00
Capital Stock
1,093.06
+0.00%
1,093.06
+21463.52%
5.07
+0.68%
5.04
Common Stock
1,093.06
+0.00%
1,093.06
+21463.52%
5.07
+0.68%
5.04
Share Issued
512.56
+0.00%
512.56
+1.66%
504.19
+0.72%
500.59
Ordinary Shares Number
497.99
-0.98%
502.92
-0.25%
504.19
+0.72%
500.59
Treasury Shares Number
14.57
+51.20%
9.64
+266.97%
2.63
-5.98%
2.79
Additional Paid In Capital
0.00
-100.00%
1,581.96
+1.34%
1,561.11
Retained Earnings
846.22
+20.00%
705.18
+11.75%
631.02
+65.24%
381.89
Gains Losses Not Affecting Retained Earnings
468.76
-9.46%
517.71
+1774.41%
27.62
-59.25%
67.78
Treasury Stock
78.45
+46.80%
53.44
+197.69%
17.95
+41.63%
12.68
Other Equity Adjustments
468.76
-9.46%
517.71
+1774.41%
27.62
-59.23%
67.75
Total Equity Gross Minority Interest
2,329.59
+2.96%
2,262.51
+1.56%
2,227.72
+10.89%
2,009.00
Total Capitalization
3,192.94
+23.50%
2,585.33
-1.56%
2,626.23
-0.38%
2,636.33
Working Capital
272.04
+10.47%
246.25
-9.35%
271.64
-30.99%
393.62
Invested Capital
3,377.71
+19.02%
2,837.88
+1.34%
2,800.24
+2.17%
2,740.81
Total Debt
1,122.98
+0.06%
1,122.25
-13.16%
1,292.35
-27.20%
1,775.29
Net Debt
944.52
+148.49%
380.11
-11.79%
430.89
-22.69%
557.37
Capital Lease Obligations
74.85
-86.31%
546.87
-24.03%
719.84
-31.02%
1,043.48
Net Tangible Assets
2,329.50
+2.98%
2,262.00
+1.60%
2,226.43
+10.97%
2,006.41
Tangible Book Value
2,329.50
+2.98%
2,262.00
+1.60%
2,226.43
+10.97%
2,006.41
Available For Sale Securities
297.58
+1189.96%
23.07
Current Provisions
3.42
Derivative Product Liabilities
0.00
0.00
Dueto Related Parties Current
0.00
-100.00%
0.03
-99.89%
29.77
+346.05%
6.67
Financial Assets
2.63
-78.15%
12.02
-65.67%
35.02
-49.38%
69.18
Foreign Currency Translation Adjustments
-0.06
-317.24%
0.03
Investmentin Financial Assets
297.58
+1189.96%
23.07
Investmentsin Associatesat Cost
0.00
Investmentsin Joint Venturesat Cost
97.82
+20.22%
81.37
+35.23%
60.17
+52.88%
39.36
Non Current Note Receivables
59.84
-6.69%
64.13
-7.89%
69.63
-6.18%
74.21
Other Equity Interest
3.79
-35.50%
5.87
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
602.89
-41.49%
1,030.36
-2.87%
1,060.81
+37.61%
770.89
Cash Flow From Continuing Operating Activities
602.89
-41.49%
1,030.36
-2.87%
1,060.81
+37.61%
770.89
Net Income From Continuing Operations
339.68
-56.12%
774.03
-2.43%
793.27
+5.55%
751.59
Depreciation Amortization Depletion
202.13
-6.04%
215.11
+1.94%
211.03
+0.86%
209.22
Depreciation
201.70
-5.88%
214.31
+2.18%
209.73
+0.24%
209.22
Amortization Cash Flow
0.43
-46.82%
0.80
-38.23%
1.30
Depreciation And Amortization
202.13
-6.04%
215.11
+1.94%
211.03
+0.86%
209.22
Amortization Of Intangibles
0.43
-46.82%
0.80
-38.23%
1.30
Other Non Cash Items
44.60
-6.68%
47.79
-38.33%
77.50
-13.02%
89.10
Stock Based Compensation
3.21
+8.28%
2.96
+4.89%
2.82
+60.34%
1.76
Asset Impairment Charge
0.00
Deferred Tax
2.50
-43.53%
4.42
-29.32%
6.25
-6.39%
6.68
Deferred Income Tax
2.50
-43.53%
4.42
-29.32%
6.25
-6.39%
6.68
Operating Gains Losses
-29.43
+39.99%
-49.03
+34.76%
-75.16
-51.43%
-49.63
Gain Loss On Investment Securities
-56.09
-120.10%
-25.48
Gain Loss On Sale Of PPE
-12.24
+57.10%
-28.52
+49.15%
-56.09
-120.10%
-25.48
Change In Working Capital
40.36
-9.50%
44.60
-8.46%
48.72
+120.93%
-232.84
Change In Receivables
-15.35
-117.82%
86.14
+161.90%
-139.17
+46.40%
-259.62
Change In Inventory
25.13
+85.46%
13.55
+176.23%
-17.77
-10.45%
-16.09
Change In Payables And Accrued Expense
41.33
+184.05%
-49.17
-123.91%
205.66
+379.69%
42.87
Change In Payable
41.33
+184.05%
-49.17
-123.91%
205.66
+379.69%
42.87
Change In Other Current Assets
-10.75
-81.55%
-5.92
0.00
0.00
Investing Cash Flow
-363.72
-1316.77%
29.89
+194.36%
-31.68
+82.32%
-179.13
Cash Flow From Continuing Investing Activities
-363.72
-1316.77%
29.89
+194.36%
-31.68
+82.32%
-179.13
Net PPE Purchase And Sale
-70.66
-1042.42%
7.50
+118.02%
-41.60
+78.26%
-191.32
Purchase Of PPE
-146.20
-194.76%
-49.60
+73.10%
-184.39
+58.76%
-447.13
Sale Of PPE
75.54
+32.29%
57.10
-60.01%
142.79
-44.18%
255.81
Capital Expenditure
-146.20
-194.62%
-49.62
+73.09%
-184.39
+58.78%
-447.38
Net Investment Purchase And Sale
-311.43
-21114.37%
1.48
+114.24%
-10.41
-3112.35%
-0.32
Purchase Of Investment
-311.43
-36071.08%
-0.86
+91.73%
-10.41
-3112.35%
-0.32
Sale Of Investment
0.00
-100.00%
2.34
0.00
0.00
Net Business Purchase And Sale
0.97
+213.77%
-0.86
+61.74%
-2.24
-23.48%
-1.81
Purchase Of Business
-0.03
+98.87%
-2.22
+1.03%
-2.24
-23.48%
-1.81
Gain Loss On Sale Of Business
-2.09
Net Intangibles Purchase And Sale
0.00
+100.00%
-0.02
0.00
+100.00%
-0.25
Purchase Of Intangibles
0.00
+100.00%
-0.02
0.00
+100.00%
-0.25
Net Other Investing Changes
5.40
-42.16%
9.33
+9.97%
8.49
-1.05%
8.58
Financing Cash Flow
-330.17
+66.96%
-999.21
+8.07%
-1,086.93
-133.68%
-465.13
Cash Flow From Continuing Financing Activities
-330.17
+66.96%
-999.21
+8.07%
-1,086.93
-133.68%
-465.13
Net Issuance Payments Of Debt
-47.04
+76.52%
-200.33
+56.22%
-457.62
-102.45%
-226.04
Issuance Of Debt
900.00
+718.18%
110.00
-55.47%
247.03
-44.36%
444.01
Repayment Of Debt
-947.04
-205.18%
-310.33
+55.96%
-704.65
-5.16%
-670.04
Long Term Debt Issuance
900.00
+718.18%
110.00
-55.47%
247.03
-44.36%
444.01
Long Term Debt Payments
-947.04
-205.18%
-310.33
+55.96%
-704.65
-5.16%
-670.04
Net Long Term Debt Issuance
-47.04
+76.52%
-200.33
+56.22%
-457.62
-102.45%
-226.04
Net Common Stock Issuance
-27.66
+43.74%
-49.16
0.00
-100.00%
97.78
Common Stock Payments
-27.66
+43.74%
-49.16
0.00
0.00
Common Stock Dividend Paid
-198.64
+71.62%
-699.88
-28.62%
-544.14
-123.24%
-243.75
Cash Dividends Paid
-198.64
+71.62%
-699.88
-28.62%
-544.14
-123.24%
-243.75
Repurchase Of Capital Stock
-27.66
+43.74%
-49.16
0.00
0.00
Proceeds From Stock Option Exercised
0.00
-100.00%
0.94
-89.93%
9.29
+536.46%
1.46
Net Other Financing Charges
4.82
-83.35%
28.96
-7.70%
31.38
+567.03%
-6.72
Changes In Cash
-90.99
-249.05%
61.05
+205.61%
-57.80
-145.65%
126.62
Beginning Cash Position
283.57
+27.43%
222.52
-20.62%
280.32
+82.38%
153.70
End Cash Position
192.57
-32.09%
283.57
+27.43%
222.52
-20.62%
280.32
Free Cash Flow
456.69
-53.43%
980.74
+11.90%
876.41
+170.91%
323.51
Common Stock Issuance
0.00
0.00
-100.00%
97.78
Dividends Received CFI
0.00
0.00
-100.00%
0.50
-72.60%
1.82
Earnings Losses From Equity Investments
-17.19
+16.21%
-20.52
-7.56%
-19.07
+21.03%
-24.15
Interest Paid CFF
-61.65
+22.68%
-79.73
+36.64%
-125.84
-43.22%
-87.87
Interest Received CFI
12.01
-3.64%
12.46
-8.28%
13.58
+225.58%
4.17
Issuance Of Capital Stock
0.00
0.00
-100.00%
97.78
Other Cash Adjustment Outside Changein Cash
-0.01
Sale Of Business
1.00
-26.47%
1.36
0.00
0.00
Taxes Refund Paid
-0.16
+98.33%
-9.51
-162.24%
-3.63
+27.24%
-4.99
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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