Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 10,670,000 shares, a growth of 8.9% from the November 15th total of 9,800,000 shares. Based on an average trading volume of 3,980,000 shares, the days-to-cover ratio is presently 2.7 days.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on 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. Evercore ISI lowered their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating on the stock in a report on Tuesday, November 19th. StockNews.com downgraded Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group started coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They set a "hold" rating and a $11.50 price objective on the stock.
Get Our Latest Analysis on HE
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV grew its holdings in Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider's stock worth $38,000 after buying an additional 1,021 shares in the last quarter. UMB Bank n.a. bought a new position in Hawaiian Electric Industries during the third quarter valued at about $42,000. Quarry LP increased its holdings in Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider's stock worth $44,000 after buying an additional 2,748 shares during the last quarter. Millburn Ridgefield Corp bought a new position in shares of Hawaiian Electric Industries during the 3rd quarter valued at approximately $55,000. Finally, Signaturefd LLC increased its stake in shares of Hawaiian Electric Industries by 30.8% during the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider's stock worth $76,000 after purchasing an additional 1,986 shares during the last quarter. Institutional investors own 59.91% of the company's stock.
Hawaiian Electric Industries Price Performance
Shares of HE traded down $0.03 during trading hours on Tuesday, reaching $10.18. The stock had a trading volume of 2,846,597 shares, compared to its average volume of 3,337,587. 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 stock has a market capitalization of $1.76 billion, a PE ratio of -0.86 and a beta of 0.53. Hawaiian Electric Industries has a 12 month low of $7.61 and a 12 month high of $18.19. The company's 50-day moving average is $10.23 and its two-hundred day moving average is $11.11.
Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.07). The company had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. Hawaiian Electric Industries's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. Research analysts expect that Hawaiian Electric Industries will post 1.71 EPS for the current year.
About Hawaiian Electric Industries
(
Get Free Report)
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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