Hawaiian Electric Industries, Inc. (NYSE:HE) Short Interest Update

Hawaiian Electric Industries, Inc. (NYSE:HE) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 25,600,000 shares, a growth of 8.3% from the May 31st total of 23,640,000 shares. Based on an average daily trading volume, of 2,300,000 shares, the days-to-cover ratio is currently 11.1 days.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HE. StockNews.com raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company raised their price target on shares of Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.63.

Hawaiian Electric Industries Stock Performance

HE stock traded down $0.02 during mid-day trading on Wednesday, hitting $8.49. The company had a trading volume of 2,793,809 shares, compared to its average volume of 2,513,209. The firm has a market cap of $936.45 million, a PE ratio of 5.03 and a beta of 0.58. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.11 and a current ratio of 0.11. Hawaiian Electric Industries has a 12 month low of $8.04 and a 12 month high of $40.16. The stock’s fifty day moving average price is $10.18 and its two-hundred day moving average price is $11.68.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.45 EPS for the quarter. The business had revenue of $897.16 million for the quarter. Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%.

Institutional Trading of Hawaiian Electric Industries

Hedge funds have recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina raised its position in shares of Hawaiian Electric Industries by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 159,290 shares of the utilities provider’s stock valued at $2,260,000 after purchasing an additional 984 shares during the period. Abich Financial Wealth Management LLC raised its position 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 during the period. Victory Capital Management Inc. raised its position in shares of Hawaiian Electric Industries by 4.4% in the fourth quarter. Victory Capital Management Inc. now owns 40,311 shares of the utilities provider’s stock valued at $572,000 after purchasing an additional 1,700 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Hawaiian Electric Industries by 17.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 1,766 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of Hawaiian Electric Industries by 13.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,100 shares of the utilities provider’s stock valued at $214,000 after purchasing an additional 1,820 shares during the period. Institutional investors own 59.91% of the company’s stock.

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.