Hawaiian Electric Industries Target of Unusually High Options Trading (NYSE:HE)

Hawaiian Electric Industries, Inc. (NYSE:HE) was the target of some unusual options trading activity on Monday. Stock traders bought 16,467 put options on the stock. This is an increase of approximately 128% compared to the average daily volume of 7,236 put options.

Hawaiian Electric Industries Price Performance

Shares of HE stock opened at $16.47 on Wednesday. The stock has a 50 day moving average price of $10.50 and a 200 day moving average price of $11.38. The firm has a market capitalization of $1.82 billion, a P/E ratio of 9.75 and a beta of 0.58. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.11 and a current ratio of 0.11. Hawaiian Electric Industries has a 52-week low of $7.61 and a 52-week high of $40.16.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, May 10th. The utilities provider reported $0.45 EPS for the quarter. The firm had revenue of $897.16 million for the quarter. Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gladius Capital Management LP lifted its holdings in Hawaiian Electric Industries by 686.9% in the fourth quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 1,841 shares during the period. New Covenant Trust Company N.A. purchased a new position in shares of Hawaiian Electric Industries in the 1st quarter valued at about $32,000. Abich Financial Wealth Management LLC raised its holdings in Hawaiian Electric Industries by 54.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 1,137 shares during the period. Fidelis Capital Partners LLC purchased a new position in Hawaiian Electric Industries during the first quarter worth approximately $42,000. Finally, Cape Investment Advisory Inc. acquired a new position in shares of Hawaiian Electric Industries during the 4th quarter worth approximately $43,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Wells Fargo & Company increased their price target on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Monday, May 13th. Three research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $11.63.

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.