Hawaiian Electric Industries (NYSE:HE) Shares Gap Up – What’s Next?

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) gapped up before the market opened on Tuesday . The stock had previously closed at $10.08, but opened at $10.38. Hawaiian Electric Industries shares last traded at $10.00, with a volume of 516,515 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on HE shares. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday. Evercore ISI decreased their price objective on shares of 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. Jefferies Financial Group lowered their target price on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research note on Friday, January 3rd. Finally, Barclays assumed coverage on Hawaiian Electric Industries in a report on Thursday, February 6th. They set an “equal weight” rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, Hawaiian Electric Industries currently has a consensus rating of “Hold” and an average target price of $10.50.

Hawaiian Electric Industries Stock Up 7.2 %

The firm’s 50-day moving average price is $9.52 and its two-hundred day moving average price is $10.69. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in Hawaiian Electric Industries by 23.5% during the fourth quarter. Wells Fargo & Company MN now owns 135,158 shares of the utilities provider’s stock worth $1,315,000 after buying an additional 25,750 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth about $525,000. Bryce Point Capital LLC acquired a new position in Hawaiian Electric Industries in the 4th quarter valued at about $478,000. RFG Bristol Wealth Advisors LLC purchased a new stake in Hawaiian Electric Industries during the 4th quarter valued at approximately $286,000. Finally, Trexquant Investment LP acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth approximately $455,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

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.