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

Hawaiian Electric Industries, Inc. (NYSE:HE) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 10,670,000 shares, an increase of 8.9% from the November 15th total of 9,800,000 shares. Based on an average trading volume of 3,980,000 shares, the days-to-cover ratio is currently 2.7 days.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several institutional investors have recently made changes to their positions in the business. KBC Group NV grew its stake in shares of Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 1,021 shares during the period. IMS Capital Management increased its stake in Hawaiian Electric Industries by 2.5% in the 2nd quarter. IMS Capital Management now owns 51,957 shares of the utilities provider’s stock worth $469,000 after buying an additional 1,257 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Hawaiian Electric Industries by 5.7% during the third quarter. Oppenheimer & Co. Inc. now owns 32,775 shares of the utilities provider’s stock valued at $317,000 after acquiring an additional 1,775 shares during the period. Signaturefd LLC lifted its position in shares of Hawaiian Electric Industries by 30.8% in the second 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 in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Hawaiian Electric Industries by 9.5% during the second quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 2,482 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

HE has been the subject of several recent research reports. Evercore ISI lowered their price objective 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 shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th.

Hawaiian Electric Industries Stock Up 0.6 %

Hawaiian Electric Industries stock traded up $0.06 during mid-day trading on Tuesday, reaching $10.27. The stock had a trading volume of 1,017,084 shares, compared to its average volume of 3,329,184. Hawaiian Electric Industries has a one year low of $7.61 and a one year high of $18.19. The company has a 50-day moving average price of $10.23 and a two-hundred day moving average price of $11.11. The company has a market capitalization of $1.77 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 current ratio of 0.18 and a quick ratio of 0.18.

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

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.