Hawaiian Electric Industries (NYSE:HE) Stock Price Down 5.7% - Time to Sell?

Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report)'s share price fell 5.7% during trading on Thursday . The company traded as low as $10.23 and last traded at $10.24. 3,599,096 shares changed hands during trading, an increase of 16% from the average session volume of 3,095,902 shares. The stock had previously closed at $10.85.

Analyst Ratings Changes

A number of research firms recently commented on HE. Barclays began coverage on Hawaiian Electric Industries in a report on Thursday, February 6th. They set an "equal weight" rating and a $10.00 target price for the company. Jefferies Financial Group decreased their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a report on Friday, January 3rd. Evercore ISI decreased their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating for the company in a report on Tuesday, November 19th. Finally, StockNews.com downgraded Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.50.

Hawaiian Electric Industries Price Performance

The stock has a 50 day simple moving average of $9.52 and a two-hundred day simple moving average of $10.51. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -0.86 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several large investors have recently modified their holdings of HE. KBC Group NV lifted its stake in Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider's stock worth $38,000 after acquiring an additional 1,021 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Hawaiian Electric Industries by 3.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 31,078 shares of the utilities provider's stock worth $302,000 after acquiring an additional 1,080 shares in the last quarter. Xponance Inc. lifted its stake in Hawaiian Electric Industries by 10.9% during the 4th quarter. Xponance Inc. now owns 11,935 shares of the utilities provider's stock worth $116,000 after acquiring an additional 1,171 shares in the last quarter. Diversified Trust Co lifted its stake in Hawaiian Electric Industries by 2.9% during the 4th quarter. Diversified Trust Co now owns 41,455 shares of the utilities provider's stock worth $403,000 after acquiring an additional 1,184 shares in the last quarter. Finally, Comerica Bank increased its holdings in Hawaiian Electric Industries by 69.3% during the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after purchasing an additional 1,715 shares during the period. Institutional investors and hedge funds own 59.91% of the company's stock.

About Hawaiian Electric Industries

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.