Short Interest in Hawaiian Electric Industries, Inc. (NYSE:HE) Increases By 16.1%

Hawaiian Electric Industries, Inc. (NYSE:HE) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 9,800,000 shares, an increase of 16.1% from the October 31st total of 8,440,000 shares. Based on an average daily volume of 4,010,000 shares, the days-to-cover ratio is currently 2.4 days.

Hawaiian Electric Industries Stock Down 1.3 %

NYSE HE traded down $0.14 during trading on Friday, reaching $10.39. 1,070,270 shares of the company’s stock traded hands, compared to its average volume of 3,008,127. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.53. The company’s 50 day simple moving average is $10.12 and its two-hundred day simple moving average is $11.16. Hawaiian Electric Industries has a 12-month low of $7.61 and a 12-month high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The firm had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Evercore ISI dropped their target price 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. Finally, StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th.

Institutional Trading of Hawaiian Electric Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. Zimmer Partners LP acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at $145,200,000. FMR LLC lifted its stake in shares of Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after purchasing an additional 5,274,633 shares during the period. Franklin Resources Inc. lifted its stake in shares of Hawaiian Electric Industries by 656.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after purchasing an additional 2,362,863 shares during the period. AQR Capital Management LLC lifted its stake in shares of Hawaiian Electric Industries by 52.8% in the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after purchasing an additional 2,312,950 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Hawaiian Electric Industries by 49.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock valued at $36,725,000 after purchasing an additional 1,253,143 shares during the period. 59.91% of the stock is currently 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.