Hawaiian Electric Industries, Inc. (NYSE:HE) Short Interest Up 8.9% in November

Hawaiian Electric Industries, Inc. (NYSE:HE) was the target of a significant growth in short interest in 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 daily trading volume, of 3,980,000 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Ratings Changes

Several brokerages recently commented on HE. Jefferies Financial Group began coverage on Hawaiian Electric Industries in a research report on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price target for the company. Evercore ISI dropped their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, November 19th. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company lowered 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.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds have recently bought and sold shares 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. UMB Bank n.a. purchased a new stake in Hawaiian Electric Industries during the 3rd quarter worth about $42,000. Quarry LP increased its holdings in Hawaiian Electric Industries by 156.6% during the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 2,748 shares during the period. Millburn Ridgefield Corp purchased a new stake in Hawaiian Electric Industries during the 3rd quarter worth about $55,000. Finally, Signaturefd LLC increased its holdings in shares of 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 acquiring an additional 1,986 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 0.1 %

Shares of Hawaiian Electric Industries stock traded down $0.01 during trading hours on Tuesday, hitting $10.20. The company’s stock had a trading volume of 264,606 shares, compared to its average volume of 3,326,719. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19. The firm has a fifty day moving average of $10.22 and a 200-day moving average of $11.11. The stock has a market cap of $1.76 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 quick ratio of 0.18 and a current ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The firm had revenue of $983.38 million for the quarter. During the same quarter last year, the firm posted $0.37 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Research analysts forecast that Hawaiian Electric Industries will post 1.71 EPS for the current year.

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.