Hawaiian Electric Industries, Inc. (NYSE:HE) Short Interest Update

Hawaiian Electric Industries, Inc. (NYSE:HE) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 15,630,000 shares, an increase of 38.1% from the September 15th total of 11,320,000 shares. Based on an average trading volume of 5,220,000 shares, the days-to-cover ratio is presently 3.0 days.

Analysts Set New Price Targets

A number of analysts have commented on HE shares. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Evercore ISI lowered their price target on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company reduced their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th.

Hawaiian Electric Industries Price Performance

Hawaiian Electric Industries stock opened at $10.11 on Tuesday. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The company’s 50 day moving average price is $11.45 and its two-hundred day moving average price is $11.23. The stock has a market cap of $1.12 billion, a P/E ratio of 5.98 and a beta of 0.54. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The business had revenue of $792.30 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The business’s revenue for the quarter was down .2% compared to the same quarter last year.

Institutional Trading of Hawaiian Electric Industries

Large investors have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. bought a new stake in shares of Hawaiian Electric Industries in the first quarter valued at $32,000. Abich Financial Wealth Management LLC raised its stake in Hawaiian Electric Industries by 54.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 1,137 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Hawaiian Electric Industries during the first quarter valued at about $42,000. UMB Bank n.a. bought a new position in Hawaiian Electric Industries during the third quarter worth about $42,000. Finally, Signaturefd LLC increased its stake in shares of Hawaiian Electric Industries by 30.8% in the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 1,986 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.