HE · NYSE · STOCK
Hawaiian Electric Industries, Inc.
$11.85
52W $10.79 – $17.38
45/100
$2.05B
9.1
0.51
Is HE Bullish or Bearish?
Mixed.
Innellis AI committee rates Hawaiian Electric Industries, Inc. (HE) Watch with a composite score of 45/100
, based on 6 analysts with 50% agreement.
Last updated August 11, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +14.65 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Reduce
- Requires the score to fall below 40.0 — -5.35 from today. The band boundary is 45.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Macro Analyst sees a compelling case — vix regime is low -- calm backdrop supports risk-taking. Growth Analyst remains cautious — revenue declining -8.6% yoy -- this is not a growth story right now. This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- Price-to-book of 1.3x is a discount to asset value — Value
- VIX regime is low -- calm backdrop supports risk-taking — Macro
- Market regime is bullish (Bull market -- normal position sizing) — Macro
Bear Case
- Debt-to-equity of 1.82 adds balance-sheet risk to the value case — Value
- Revenue declining -8.6% YoY -- this is not a growth story right now — Growth
- Price structure making lower highs and lower lows — Technical
- RSI at 20 is in oversold territory (could mean either capitulation or a bounce setup) — Technical
- MACD histogram negative -- bearish momentum — Technical
- Trend and market structure agree -- coherent bearish picture — Technical
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of August 11, 2026
Overall Committee Score
45/100
Agreement
50%
Analysts
6
Conviction
Contested
Sector Rank
Top 98%
of 56 Utilities peers
Value Analyst
neutral
58
/ 100 · Moderate confidence
Fair value -- neither a bargain nor obviously overpriced
+ Price-to-book of 1.3x is a discount to asset value
− Debt-to-equity of 1.82 adds balance-sheet risk to the value case
Growth Analyst
bearish
15
/ 100 · Low confidence
Growth story is weak, decelerating, or inconsistent
− Revenue declining -8.6% YoY -- this is not a growth story right now
Technical Analyst
bearish
31
/ 100 · High confidence
Price action is deteriorating -- trend and/or momentum are working against this name
− Price structure making lower highs and lower lows
Risk Analyst
bearish
32
/ 100 · Moderate confidence
Elevated risk from leverage, volatility, event exposure, or portfolio concentration -- size accordingly
− High leverage (debt-to-equity 1.82) amplifies downside in a stress scenario
Macro Analyst
bullish
78
/ 100 · Moderate confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
+ VIX regime is low -- calm backdrop supports risk-taking
News Analyst
neutral
58
/ 100 · Low confidence
News flow is mixed or quiet -- no strong signal either way right now
Portfolio Manager
neutral
55
/ 100 · Moderate confidence
Portfolio-level factors are mixed -- worth a deliberate sizing decision, not a default-size position
+ Portfolio position concentration is currently healthy
− 2 existing position pair(s) are highly correlated already
Technical Analysis
RSI (14)
19.6
Oversold
MACD Histogram
-0.142
Bearish Momentum
Trend Direction
Downtrend
Weekly: Uptrend
Market Structure
Lh Ll
Support
$10.84
Resistance
$12.14
Bollinger %B
-0.01
Below Lower Band
Price vs Moving Averages
EMA 9
$12.42
Below
EMA 21
$12.83
Below
EMA 50
$13.26
Below
EMA 200
$13.40
Below
Fundamental Analysis
Valuation
100
Profitability
22
Financial Health
30
Cash Flow
15
Valuation
P/E Ratio
9.1×
P/B Ratio
1.16×
PEG Ratio
0.00
Dividend Yield
0.00%
52W High
$17.38
52W Low
$10.79
Quality & Growth
ROE
786.4%
ROA
141.5%
Gross Margin
1147.7%
Operating Margin
1147.7%
Revenue Growth YoY
—
Debt / Equity
1.60
AI Fundamental Assessment
[reduced confidence: limited earnings history] P/E ratio of 9.1 (inexpensive relative to a 15-40x range); Price-to-book of 1.2x; PEG ratio of 0.0 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 7.9%; Return on assets of 1.4%; Net margin of 6.9%; Gross margin of 11.5%; Current ratio of 0.99 (tight short-term liquidity); Debt-to-equity of 1.60; Free cash flow per share is negative (-0.71); Earnings-history trend unavailable; growth based on TTM year-over-year only.
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