Short Interest in Hawaiian Electric Industries, Inc. (NYSE:HE) Expands By 8.3%

Hawaiian Electric Industries, Inc. (NYSE:HE) was the target of a significant growth in short interest in 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 volume of 2,300,000 shares, the days-to-cover ratio is presently 11.1 days.

Wall Street Analysts Forecast Growth

HE has been the subject of several analyst reports. Wells Fargo & Company upped their target price on shares of Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a research note on Monday, May 13th. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, Hawaiian Electric Industries has an average rating of “Hold” and an average target price of $11.63.

Hawaiian Electric Industries Stock Up 1.2 %

HE traded up $0.10 during trading on Tuesday, hitting $8.28. The company had a trading volume of 2,005,144 shares, compared to its average volume of 2,495,190. The company has a market cap of $913.28 million, a PE ratio of 4.84 and a beta of 0.58. The business has a 50-day moving average of $10.23 and a 200-day moving average of $11.72. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.11 and a quick ratio of 0.11. Hawaiian Electric Industries has a 1-year low of $8.04 and a 1-year high of $40.16.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, May 10th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. The firm 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

Institutional investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC lifted its holdings in Hawaiian Electric Industries by 2.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 88,502 shares of the utilities provider’s stock worth $1,089,000 after acquiring an additional 1,976 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Hawaiian Electric Industries by 230.7% in the 3rd quarter. Treasurer of the State of North Carolina now owns 158,306 shares of the utilities provider’s stock worth $1,949,000 after purchasing an additional 110,429 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Hawaiian Electric Industries during the 3rd quarter valued at approximately $1,670,000. Arden Trust Co grew its stake in Hawaiian Electric Industries by 25.2% during the 4th quarter. Arden Trust Co now owns 176,889 shares of the utilities provider’s stock worth $2,510,000 after buying an additional 35,577 shares during the last quarter. Finally, Wedmont Private Capital acquired a new stake in Hawaiian Electric Industries in the fourth quarter worth $183,000. 59.91% of the stock is owned by institutional investors and hedge funds.

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.