Hawaiian Electric Industries (NYSE:HE) Shares Down 4.4% – Should You Sell?

Hawaiian Electric Industries, Inc. (NYSE:HE) shares were down 4.4% on Wednesday . The stock traded as low as $9.26 and last traded at $9.34. Approximately 1,897,611 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 3,440,039 shares. The stock had previously closed at $9.77.

Analyst Upgrades and Downgrades

HE has been the subject of a number of recent analyst reports. Evercore ISI dropped their target price on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company decreased their price target 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.

Hawaiian Electric Industries Price Performance

The stock has a fifty day moving average of $11.71 and a 200-day moving average of $11.24. The firm has a market capitalization of $1.07 billion, a P/E ratio of -0.92 and a beta of 0.54. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The company had revenue of $792.30 million during the quarter. The firm’s quarterly revenue was down .2% compared to the same quarter last year.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of Hawaiian Electric Industries during the first quarter worth approximately $32,000. Abich Financial Wealth Management LLC raised its position in shares of Hawaiian Electric Industries by 54.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 1,137 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Hawaiian Electric Industries in the 1st quarter valued at $42,000. UMB Bank n.a. acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at $42,000. Finally, Signaturefd LLC boosted its position in shares of Hawaiian Electric Industries by 30.8% in the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 1,986 shares during the last quarter. 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.