Hawaiian Electric Industries (NYSE:HE) Trading Down 5.7% – Should You Sell?

Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price dropped 5.7% during mid-day trading on Thursday . The stock traded as low as $10.23 and last traded at $10.24. Approximately 3,599,096 shares traded hands during trading, an increase of 16% from the average daily volume of 3,095,902 shares. The stock had previously closed at $10.85.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HE shares. Barclays initiated coverage on shares of Hawaiian Electric Industries in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $10.00 price objective for the company. Evercore ISI reduced their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a report on Tuesday, November 19th. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Jefferies Financial Group reduced their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, Hawaiian Electric Industries currently has a consensus rating of “Hold” and a consensus target price of $10.50.

Hawaiian Electric Industries Trading Down 1.9 %

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 stock’s 50 day moving average is $9.54 and its 200-day moving average is $10.69. The company has a market capitalization of $1.75 billion, a P/E ratio of -0.86 and a beta of 0.53.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. KBC Group NV raised its holdings in Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,021 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Hawaiian Electric Industries by 3.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 31,078 shares of the utilities provider’s stock worth $302,000 after acquiring an additional 1,080 shares during the last quarter. Xponance Inc. lifted its position in Hawaiian Electric Industries by 10.9% in the 4th quarter. Xponance Inc. now owns 11,935 shares of the utilities provider’s stock valued at $116,000 after acquiring an additional 1,171 shares in the last quarter. Diversified Trust Co boosted its stake in Hawaiian Electric Industries by 2.9% during the 4th quarter. Diversified Trust Co now owns 41,455 shares of the utilities provider’s stock valued at $403,000 after purchasing an additional 1,184 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Hawaiian Electric Industries by 69.3% in the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 1,715 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

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.