HE · NYSE · STOCK
Hawaiian Electric Industries (HE) Stock Analysis
$8.77
52W $8.65 – $17.38
48/100
$1.51B
6.7
0.50
Is HE Bullish or Bearish?
Mixed.
Innellis AI committee rates Hawaiian Electric Industries, Inc. (HE) Watch with a composite score of 48/100
, based on 6 analysts with 50% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +11.60 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 — -8.40 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. Value Analyst sees a compelling case — p/e of 6.7 is inexpensive for the broad market. Portfolio Manager remains cautious — sector concentration is already high (hhi 2796.97). This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- P/E of 6.7 is inexpensive for the broad market — Value
- Price-to-book of 1.3x is a discount to asset value — Value
- MACD histogram positive -- bullish momentum — Technical
Bear Case
- Debt-to-equity of 1.82 adds balance-sheet risk to the value case — Value
- 3 consecutive earnings misses -- execution concerns — Growth
- Growth rate is decelerating quarter over quarter -- the trend line matters more than the level — Growth
- Price structure making lower highs and lower lows — Technical
- RSI at 23 is in oversold territory (could mean either capitulation or a bounce setup) — 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 October 10, 2026
Overall Committee Score
48/100
Agreement
50%
Analysts
6
Conviction
Contested
Sector Rank
Top 89%
of 56 Utilities peers
Value Analyst
bullish
65
/ 100 · Moderate confidence
Classic value case: cheap on multiples with earnings power to back it up
+ P/E of 6.7 is inexpensive for the broad market
− Debt-to-equity of 1.82 adds balance-sheet risk to the value case
Growth Analyst
bearish
32
/ 100 · High confidence
Growth story is weak, decelerating, or inconsistent
− 3 consecutive earnings misses -- execution concerns
Technical Analyst
bearish
39
/ 100 · High confidence
Price action is deteriorating -- trend and/or momentum are working against this name
+ MACD histogram positive -- bullish momentum
− 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
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
neutral
58
/ 100 · Low confidence
News flow is mixed or quiet -- no strong signal either way right now
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 48.4 to 48.4.
- New bearish signals: 2 appeared.
- Bullish support removed: 1 signal(s) disappeared.
- New bullish signals: 1 appeared.
- Bearish pressure eased: 2 signal(s) disappeared.
Analyst-level changes:
- Risk Analyst: +1 bearish signal(s).
- Technical Analyst: +1 bearish signal(s).
- Value Analyst: +1 bullish signal(s).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
23.4
Oversold
MACD Histogram
0.043
Bullish Momentum
Trend Direction
Downtrend
Weekly: Uptrend
Market Structure
Lh Ll
Bollinger %B
0.25
Inside Bands
Price vs Moving Averages
EMA 9
$8.93
Below
EMA 21
$9.41
Below
EMA 50
$10.48
Below
EMA 200
$12.31
Below
Fundamental Analysis
Valuation
100
Growth
43
Profitability
22
Financial Health
30
Cash Flow
15
Valuation
P/E Ratio
6.7×
P/B Ratio
0.86×
PEG Ratio
0.00
Dividend Yield
0.00%
52W High
$17.38
52W Low
$8.65
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
P/E ratio of 6.7 (inexpensive relative to a 15-40x range); Price-to-book of 0.9x; 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 (-3.28); Most recent quarter missed estimates by 25.8%; 3 consecutive earnings misses; EPS growth decelerating (-25.0% -> -27.8% QoQ); Analyst estimates falling over recent quarters
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