Hawaiian Electric Industries (NYSE:HE) Shares Gap Up - Here's What Happened

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $10.08, but opened at $10.38. Hawaiian Electric Industries shares last traded at $10.00, with a volume of 516,515 shares changing hands.

Wall Street Analyst Weigh In

HE has been the topic of a number of analyst reports. Evercore ISI cut their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating on the stock in a research report on Tuesday, November 19th. StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday. Barclays initiated coverage on Hawaiian Electric Industries in a research report on Thursday, February 6th. They set an "equal weight" rating and a $10.00 price target on the stock. Finally, Jefferies Financial Group lowered their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, Hawaiian Electric Industries currently has a consensus rating of "Hold" and an average target price of $10.50.

Hawaiian Electric Industries Stock Down 2.0 %

The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -0.86 and a beta of 0.53. The business's 50 day moving average is $9.54 and its 200 day moving average is $10.69.

Hedge Funds Weigh In On Hawaiian Electric Industries

Hedge funds have recently made changes to their positions in the company. Zimmer Partners LP acquired a new stake in Hawaiian Electric Industries during the 3rd quarter valued at approximately $145,200,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Hawaiian Electric Industries during the fourth quarter worth $115,010,000. FMR LLC raised its holdings in shares of Hawaiian Electric Industries by 7,986.3% during the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider's stock worth $51,698,000 after purchasing an additional 5,274,633 shares during the last quarter. Horizon Kinetics Asset Management LLC acquired a new position in Hawaiian Electric Industries during the fourth quarter valued at $23,153,000. Finally, Franklin Resources Inc. boosted its holdings in Hawaiian Electric Industries by 656.7% in the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock valued at $27,499,000 after purchasing an additional 2,362,863 shares during the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

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.