Hawaiian Electric Industries (NYSE:HE) Trading Down 5.8% – Time to Sell?

Hawaiian Electric Industries, Inc. (NYSE:HE) shares dropped 5.8% during mid-day trading on Monday . The stock traded as low as $10.85 and last traded at $10.8950. Approximately 602,508 shares traded hands during trading, a decline of 72% from the average daily volume of 2,156,177 shares. The stock had previously closed at $11.57.

Analyst Ratings Changes

Several analysts have weighed in on the company. Jefferies Financial Group upgraded Hawaiian Electric Industries to a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Hawaiian Electric Industries in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.94.

Hawaiian Electric Industries Trading Down 3.4%

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.52. The firm’s fifty day moving average is $11.65 and its two-hundred day moving average is $11.12. The firm has a market cap of $1.93 billion, a P/E ratio of -11.07 and a beta of 0.67.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.39. The business had revenue of $790.61 million during the quarter. Hawaiian Electric Industries had a negative net margin of 3.66% and a positive return on equity of 10.76%. Analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Large investors have recently added to or reduced their stakes in the stock. Optimize Financial Inc purchased a new position in shares of Hawaiian Electric Industries in the first quarter worth $261,000. Arizona State Retirement System boosted its holdings in shares of Hawaiian Electric Industries by 3.7% in the 1st quarter. Arizona State Retirement System now owns 49,470 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 1,771 shares during the period. Moors & Cabot Inc. raised its stake in shares of Hawaiian Electric Industries by 119.2% in the second quarter. Moors & Cabot Inc. now owns 225,662 shares of the utilities provider’s stock valued at $2,399,000 after acquiring an additional 122,737 shares during the period. Principal Financial Group Inc. purchased a new stake in Hawaiian Electric Industries in the 1st quarter worth about $126,000. Finally, Y Intercept Hong Kong Ltd raised its holdings in shares of Hawaiian Electric Industries by 445.2% in the second quarter. Y Intercept Hong Kong Ltd now owns 118,083 shares of the utilities provider’s stock worth $1,255,000 after buying an additional 96,425 shares during the period. Institutional investors own 59.91% of the company’s stock.

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.