Hawaiian Electric Industries, Inc. (NYSE:HE) price on Friday, October 25, rose 0.10% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $9.75.
A look at the stock’s price movement, the close in the last trading session was $9.74, moving within a range at $9.7 and $9.95. The beta value (5-Year monthly) was 0.548. Turning to its 52-week performance, $18.19 and $7.61 were the 52-week high and 52-week low respectively. Overall, HE moved -1.02% over the past month.
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Hawaiian Electric Industries, Inc.’s market cap currently stands at around $1.60 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-08.
Analysts have a consensus estimate of 917.15M for the company’s revenue for the quarter, with a low and high estimate of 917.15M and 917.15M respectively. The average forecast suggests up to a 1.70% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 3.73B, representing a 1.40% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that HE is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 0 recommend HE as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Sell which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
HE’s current price about -0.71% and -8.87% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.53, while 7-day volatility ratio is 2.75% and 3.84% in the 30-day chart. Further, Hawaiian Electric Industries, Inc. (HE) has a beta value of 0.55, and an average true range (ATR) of 0.44. Analysts have given the company’s stock an average 52-week price target of $15, forecast between a low of $14 and high of $16. Looking at the price targets, the low is -43.59% off current price level while to achieve the yearly target high, price needs to move -64.1%. Nonetheless, investors will most likely welcome a -53.85% jump to $15 which is the analysts’ median price.
If we refocus on Hawaiian Electric Industries, Inc. (NYSE:HE), historical trading data shows that trading volumes averaged 2.4 over the past 10 days and 4.00 million over the past 3 months. The company’s latest data on shares outstanding shows there are 164.36 million shares.
The 0.23% of Hawaiian Electric Industries, Inc.’s shares are in the hands of company insiders while institutional holders own 43.65% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 15.63 million on 2024-09-30, giving us a short ratio of 2.67. The data shows that as of 2024-09-30 short interest in Hawaiian Electric Industries, Inc. (HE) stood at 908.0 of shares outstanding, with shares short rising to 13.16 million registered in 2024-08-30. Current price change has pushed the stock -31.29% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the HE stock continues to rise going into the next quarter.
