Hawaiian Electric Industries (NYSE:HE) Shares Cross Above 200 Day Moving Average – Time to Sell?

Hawaiian Electric Industries, Inc. (NYSE:HE) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.32 and traded as high as $11.92. Hawaiian Electric Industries shares last traded at $11.8260, with a volume of 2,768,171 shares.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HE. Jefferies Financial Group dropped their price objective on shares of Hawaiian Electric Industries from $12.25 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, December 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday. One equities research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.13.

Hawaiian Electric Industries Price Performance

The company has a market capitalization of $2.04 billion, a P/E ratio of 147.83 and a beta of 0.64. The business’s 50-day moving average is $11.55 and its two-hundred day moving average is $11.32. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.79.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.39. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. The business had revenue of $790.61 million during the quarter. As a group, analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Institutional Trading of Hawaiian Electric Industries

A number of hedge funds have recently bought and sold shares of HE. Allworth Financial LP grew its stake in Hawaiian Electric Industries by 43.3% in the 3rd quarter. Allworth Financial LP now owns 6,598 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 1,993 shares during the period. CIBC Bancorp USA Inc. purchased a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth about $205,000. Dark Forest Capital Management LP boosted its holdings in shares of Hawaiian Electric Industries by 359.2% in the 3rd quarter. Dark Forest Capital Management LP now owns 214,310 shares of the utilities provider’s stock worth $2,366,000 after buying an additional 167,637 shares during the last quarter. Polymer Capital Management US LLC bought a new position in Hawaiian Electric Industries during the third quarter valued at about $312,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Hawaiian Electric Industries during the third quarter worth about $1,498,000. 59.91% of the stock is currently owned by institutional investors.

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.