Hawaiian Electric Industries Sees Unusually High Options Volume (NYSE:HE)

Hawaiian Electric Industries, Inc. (NYSE:HE) saw unusually large options trading activity on Monday. Traders purchased 14,401 call options on the company. This represents an increase of 54% compared to the typical daily volume of 9,345 call options.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HE. Wells Fargo & Company reduced their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Finally, Evercore ISI reduced their price target on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds have recently made changes to their positions in the business. Deltec Asset Management LLC acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth approximately $484,000. PFG Investments LLC acquired a new position in shares of Hawaiian Electric Industries in the third quarter worth about $166,000. IFM Investors Pty Ltd boosted its holdings in shares of Hawaiian Electric Industries by 42.9% in the third quarter. IFM Investors Pty Ltd now owns 21,864 shares of the utilities provider’s stock worth $212,000 after buying an additional 6,562 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 789.8% in the third quarter. International Assets Investment Management LLC now owns 106,270 shares of the utilities provider’s stock worth $10,978,000 after buying an additional 94,327 shares during the period. Finally, Seven Grand Managers LLC acquired a new position in shares of Hawaiian Electric Industries in the third quarter worth about $4,888,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

NYSE:HE traded up $0.35 during mid-day trading on Monday, hitting $10.10. The stock had a trading volume of 3,507,624 shares, compared to its average volume of 3,395,382. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -0.96 and a beta of 0.54. The company has a 50 day simple moving average of $10.64 and a 200-day simple moving average of $11.16. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62.

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

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.