Short Interest in Hawaiian Electric Industries, Inc. (NYSE:HE) Expands By 7.2%

Hawaiian Electric Industries, Inc. (NYSE:HE) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 26,870,000 shares, an increase of 7.2% from the June 30th total of 25,070,000 shares. Based on an average daily volume of 3,940,000 shares, the days-to-cover ratio is currently 6.8 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Hawaiian Electric Industries by 31.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,265 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 3,156 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Hawaiian Electric Industries in the first quarter worth about $42,000. State Board of Administration of Florida Retirement System raised its holdings in Hawaiian Electric Industries by 18.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 156,734 shares of the utilities provider’s stock worth $1,766,000 after purchasing an additional 24,328 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Hawaiian Electric Industries by 470.4% in the 1st quarter. Acadian Asset Management LLC now owns 10,780 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 8,890 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Hawaiian Electric Industries in the fourth quarter worth $2,370,000. Institutional investors own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

HE has been the subject of several research reports. Wells Fargo & Company raised their price objective on Hawaiian Electric Industries from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, May 13th. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to MarketBeat, Hawaiian Electric Industries currently has a consensus rating of “Reduce” and an average price target of $11.63.

Hawaiian Electric Industries Stock Performance

NYSE:HE traded up $0.25 during trading hours on Thursday, hitting $16.81. 1,636,835 shares of the company traded hands, compared to its average volume of 3,103,281. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.19. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $38.63. The firm has a 50-day moving average of $11.13 and a 200 day moving average of $11.49. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 9.80 and a beta of 0.57.

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

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.