Hawaiian Electric Industries, Inc. (NYSE:HE) Sees Significant Increase in Short Interest

Hawaiian Electric Industries, Inc. (NYSE:HE) was the recipient of a significant growth in short interest in 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 daily trading volume, of 5,220,000 shares, the short-interest ratio is currently 3.0 days.

Hawaiian Electric Industries Trading Down 0.7 %

HE traded down $0.07 during trading on Friday, reaching $9.73. 1,870,822 shares of the stock traded hands, compared to its average volume of 3,442,291. The stock’s 50-day moving average is $11.59 and its 200 day moving average is $11.24. Hawaiian Electric Industries has a 12 month low of $7.61 and a 12 month high of $18.19. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62. The stock has a market capitalization of $1.07 billion, a PE ratio of -0.92 and a beta of 0.54.

Hawaiian Electric Industries (NYSE:HE) last released its 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 positive return on equity of 10.69% and a negative net margin of 31.76%. The business had revenue of $792.30 million for the quarter. The firm’s revenue was down .2% on a year-over-year basis.

Institutional Trading of Hawaiian Electric Industries

Large investors have recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of Hawaiian Electric Industries during the first quarter worth about $32,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Hawaiian Electric Industries by 54.4% in the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,137 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Hawaiian Electric Industries during the first quarter valued at approximately $42,000. UMB Bank n.a. bought a new stake in Hawaiian Electric Industries during the third quarter worth $42,000. Finally, Signaturefd LLC raised its position in Hawaiian Electric Industries by 30.8% in the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after buying an additional 1,986 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Evercore ISI lowered their target price 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. Wells Fargo & Company cut their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Finally, StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th.

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.