Hawaiian (NASDAQ:HA) Sees Unusually-High Trading Volume on Analyst Upgrade

Hawaiian Holdings, Inc. (NASDAQ:HA) saw an uptick in trading volume on Wednesday after TD Cowen raised their price target on the stock from $13.00 to $18.00. TD Cowen currently has a hold rating on the stock. 2,367,727 shares changed hands during trading, an increase of 102% from the previous session’s volume of 1,169,645 shares.The stock last traded at $17.67 and had previously closed at $17.68.

Separately, Susquehanna decreased their price target on shares of Hawaiian from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Hawaiian presently has an average rating of “Hold” and a consensus target price of $13.00.

Hedge Funds Weigh In On Hawaiian

Institutional investors have recently modified their holdings of the business. Par Capital Management Inc. acquired a new position in Hawaiian in the 4th quarter valued at $21,584,000. Alpine Associates Management Inc. acquired a new position in Hawaiian in the 4th quarter valued at $14,964,000. Water Island Capital LLC acquired a new position in Hawaiian in the 4th quarter valued at $7,953,000. Rhumbline Advisers increased its stake in Hawaiian by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 249,992 shares of the transportation company’s stock valued at $3,107,000 after buying an additional 3,239 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Hawaiian by 26.1% in the 2nd quarter. Hsbc Holdings PLC now owns 243,872 shares of the transportation company’s stock valued at $3,030,000 after buying an additional 50,422 shares during the period. 70.15% of the stock is owned by institutional investors and hedge funds.

Hawaiian Stock Down 0.2 %

The company has a market capitalization of $915.13 million, a PE ratio of -3.05 and a beta of 2.38. The firm’s 50-day simple moving average is $13.23 and its 200 day simple moving average is $13.38. The company has a debt-to-equity ratio of 16.74, a quick ratio of 0.89 and a current ratio of 1.11.

Hawaiian (NASDAQ:HA) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($1.34) by ($0.03). Hawaiian had a negative return on equity of 1,220.98% and a negative net margin of 12.80%. The business had revenue of $731.91 million during the quarter, compared to analysts’ expectations of $745.68 million. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. Hawaiian’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts forecast that Hawaiian Holdings, Inc. will post -6.83 earnings per share for the current year.

Hawaiian Company Profile

Hawaiian Holdings, Inc, through its subsidiary, Hawaiian Airlines, Inc, engages in the scheduled air transportation of passengers and cargo. It provides daily services on North America routes between the State of Hawai'i and Long Beach, Los Angeles, Oakland, Ontario, Sacramento, San Diego, San Francisco, and San Jose, California; Las Vegas, Nevada; Seattle, Washington; Portland, Oregon; Phoenix, Arizona; New York City, New York; Austin, Texas; and Boston, Massachusetts.