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

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

Wall Street Analyst Weigh In

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

Hawaiian Electric Industries Price Performance

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 company has a market cap of $1.79 billion, a PE ratio of -0.88 and a beta of 0.53. The company has a 50-day moving average price of $9.54 and a two-hundred day moving average price of $10.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Hawaiian Electric Industries during the 3rd quarter worth approximately $821,000. FORA Capital LLC bought a new stake in shares of Hawaiian Electric Industries in the third quarter worth $692,000. Franklin Resources Inc. raised its holdings in 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 valued at $27,499,000 after acquiring an additional 2,362,863 shares in the last quarter. Seven Grand Managers LLC acquired a new stake in Hawaiian Electric Industries in the third quarter valued at $4,888,000. Finally, FMR LLC boosted its stake in Hawaiian Electric Industries by 7,986.3% during the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after acquiring an additional 5,274,633 shares during the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

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.