Short Interest in Hawaiian Electric Industries, Inc. (NYSE:HE) Increases By 38.1%

Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 15,630,000 shares, a growth 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 short-interest ratio is presently 3.0 days.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several hedge funds have recently bought and sold shares of HE. Inspire Investing LLC raised its position in shares of Hawaiian Electric Industries by 8.2% in the third quarter. Inspire Investing LLC now owns 42,287 shares of the utilities provider's stock valued at $409,000 after purchasing an additional 3,215 shares during the period. UMB Bank n.a. bought a new position in Hawaiian Electric Industries in the 3rd quarter valued at about $42,000. GAMMA Investing LLC lifted its position in Hawaiian Electric Industries by 236.5% during the third quarter. GAMMA Investing LLC now owns 32,105 shares of the utilities provider's stock worth $311,000 after acquiring an additional 22,565 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Hawaiian Electric Industries by 96.2% during the third quarter. SG Americas Securities LLC now owns 37,347 shares of the utilities provider's stock worth $362,000 after acquiring an additional 18,312 shares during the period. Finally, IMS Capital Management increased its stake in shares of Hawaiian Electric Industries by 2.5% during the second quarter. IMS Capital Management now owns 51,957 shares of the utilities provider's stock worth $469,000 after purchasing an additional 1,257 shares during the period. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Down 0.7 %

HE stock traded down $0.07 during midday trading on Friday, hitting $9.73. The company's stock had a trading volume of 1,870,822 shares, compared to its average volume of 3,442,291. The company's fifty day moving average price is $11.59 and its 200 day moving average price is $11.24. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19. The stock has a market capitalization of $1.07 billion, a P/E ratio of -0.92 and a beta of 0.54.

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

Wall Street Analyst Weigh In

HE has been the topic of several research reports. StockNews.com downgraded Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Friday, October 4th. Evercore ISI cut their price target on Hawaiian Electric Industries from $16.00 to $9.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 24th. Finally, Wells Fargo & Company decreased their target price on Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating for the company in a research report on Monday, September 30th.

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.

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