Hawaiian Electric ( (HE) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Hawaiian Electric shares climbed after the utility updated its at-the-market equity program, giving it more flexibility to raise up to $250 million and ease balance-sheet concerns. The company also filed revised U.S. federal tax guidance for non-U.S. investors on how its dividends, returns of capital and share sales are treated.
Following these moves, Barclays nudged its price target higher from $14 while maintaining an Equal Weight rating. The broker’s neutral stance suggests cautious optimism, signaling that while the risk profile may be improving, the stock is not yet seen as a clear outperformer.
Investors are watching to see whether the capital raise and tax clarity attract more institutional and international interest. Any sustained buying from these groups could support further upside in Hawaiian Electric’s share price over the coming months.
More about Hawaiian Electric
YTD Price Performance: 25.93%
Average Trading Volume: 4,101,534
Technical Sentiment Signal: Hold
Current Market Cap: $2.67B
For further insights into HE stock on TipRanks’ Stock Analysis page.
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