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

Hawaiian Electric Industries, Inc. (NYSE:HE) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 25,600,000 shares, an increase 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 currently 11.1 days.

Institutional Trading of Hawaiian Electric Industries

Institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP boosted its position in Hawaiian Electric Industries by 686.9% during the fourth quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 1,841 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in Hawaiian Electric Industries during the first quarter valued at $32,000. Cape Investment Advisory Inc. acquired a new stake in Hawaiian Electric Industries during the fourth quarter valued at $43,000. Abich Financial Wealth Management LLC boosted its position in Hawaiian Electric Industries by 54.4% during 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 last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in Hawaiian Electric Industries during the first quarter valued at $42,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

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

Hawaiian Electric Industries Stock Performance

Shares of HE stock opened at $8.49 on Thursday. Hawaiian Electric Industries has a 1-year low of $8.04 and a 1-year high of $40.16. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $936.45 million, a price-to-earnings ratio of 5.02 and a beta of 0.57. The stock’s fifty day simple moving average is $10.13 and its 200-day simple moving average is $11.66.

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

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.