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

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Zimmer Partners LP purchased a new position in Hawaiian Electric Industries in the 3rd quarter worth approximately $145,200,000. FMR LLC grew its holdings in shares of Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after purchasing an additional 5,274,633 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Hawaiian Electric Industries by 656.7% in the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock worth $27,499,000 after buying an additional 2,362,863 shares during the period. AQR Capital Management LLC increased its stake in shares of Hawaiian Electric Industries by 52.8% in the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after buying an additional 2,312,950 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Hawaiian Electric Industries by 49.3% during 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 buying an additional 1,253,143 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE traded up $0.06 during mid-day trading on Tuesday, reaching $10.27. 1,017,084 shares of the company were exchanged, compared to its average volume of 3,329,184. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The company’s 50 day moving average price is $10.23 and its 200 day moving average price is $11.11. The stock has a market capitalization of $1.77 billion, a PE ratio of -0.86 and a beta of 0.53. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share 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 company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 earnings per share. Sell-side analysts forecast that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on HE. Jefferies Financial Group assumed coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 target price on the stock. Wells Fargo & Company lowered their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Finally, Evercore ISI decreased their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 19th.

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.