Market Analysts see Hawaiian Electric Industries, Inc. [HE] gaining to $8.50. Time to buy?

Hawaiian Electric Industries, Inc. [NYSE: HE] traded at a low on Wednesday, posting a -4.88 loss after which it closed the day’ session at $12.47. The company report on February 13, 2024 at 4:00 PM that HEI Reports 2023 Results.

Full Year Net Income of $199.2 million and Diluted Earnings Per Share (EPS) of $1.81.

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2023 Results Include $14.1 Million of After-tax Maui Wildfire-Related Expenses and an $11.0 Million After-tax Loss Resulting from ASB’s Fourth Quarter Balance Sheet Repositioning.

The results of the trading session contributed to over 5219114 shares changing hands. Over the past one week, the price volatility of Hawaiian Electric Industries, Inc. stands at 4.60% while the volatility over the past one month is 3.82%.

The market cap for HE stock reached $1.37 billion, with 110.12 million shares outstanding and 109.78 million shares in the current float. Compared to the average trading volume of 2.46M shares, HE reached a trading volume of 5219114 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Hawaiian Electric Industries, Inc. [HE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HE shares is $9.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HE stock is a recommendation set at 3.67. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Hawaiian Electric Industries, Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on November 10, 2023.

The Average True Range (ATR) for Hawaiian Electric Industries, Inc. is set at 0.56, with the Price to Sales ratio for HE stock in the period of the last 12 months amounting to 0.37. The Price to Book ratio for the last quarter was 0.62, with the Price to Cash per share for the same quarter was set at 6.21. Price to Free Cash Flow for HE in the course of the last twelve months was 5.15 with Quick ratio for the last quarter at 3.90.

How has HE stock performed recently?

Hawaiian Electric Industries, Inc. [HE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.88. With this latest performance, HE shares dropped by -6.24% in over the last four-week period, additionally sinking by -15.69% over the last 6 months – not to mention a drop of -71.01% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HE stock in for the last two-week period is set at 39.65, with the RSI for the last a single of trading hit 35.86, and the three-weeks RSI is set at 42.21 for Hawaiian Electric Industries, Inc. [HE]. The present Moving Average for the last 50 days of trading for this stock 13.66, while it was recorded at 13.08 for the last single week of trading, and 21.83 for the last 200 days.

Hawaiian Electric Industries, Inc. [HE]: Deeper insight into the fundamentals

Hawaiian Electric Industries, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.90 and a Current Ratio set at 3.90.

Earnings analysis for Hawaiian Electric Industries, Inc. [HE]

With the latest financial reports released by the company, Hawaiian Electric Industries, Inc. posted 0.5/share EPS, while the average EPS was predicted by analysts to be reported at 0.53/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Hawaiian Electric Industries, Inc. go to 4.20%.

Insider trade positions for Hawaiian Electric Industries, Inc. [HE]

The top three institutional holders of HE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HE stock with ownership which is approximately 5.8325%.