HE
Hawaiian Electric Industries, Inc. Utilities - Utilities - Regulated Electric Investor Relations →
Hawaiian Electric Industries, Inc. (HE) closed at $17.08 as of 2026-02-02, trading 17.6% below its 200-week moving average of $20.74. This places HE in the extreme value zone. The stock moved further from the line this week, up from -26.5% last week. With a 14-week RSI of 85, HE is in overbought territory.
Over the past 2715 weeks of data, HE has crossed below its 200-week moving average 28 times. On average, these episodes lasted 18 weeks. Historically, investors who bought HE at the start of these episodes saw an average one-year return of +6.8%.
With a market cap of $2.9 billion, HE is a mid-cap stock. The company generates a free cash flow yield of 209.7%, which is notably high. Return on equity stands at 7.0%. The stock trades at 1.9x book value.
Share count has increased 57.8% over three years, indicating dilution.
Over the past 33.2 years, a hypothetical investment of $100 in HE would have grown to $481, compared to $2849 for the S&P 500. HE has returned 4.8% annualized vs 10.6% for the index, underperforming the broader market over this period.
Free cash flow has been volatile over the past several years, making the quality of earnings harder to assess.
Growth of $100: HE vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After HE Crosses Below the Line?
Across 17 historical episodes, buying HE when it crossed below its 200-week moving average produced an average return of +3.5% after 12 months (median +23.0%), compared to +19.3% for the S&P 500 over the same periods. 76% of those episodes were profitable after one year. After 24 months, the average return was +5.7% vs +26.0% for the index.
Each line shows $100 invested at the moment HE crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
HE has crossed below its 200-week MA 28 times with an average 1-year return of +6.8% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Jan 1974 | Apr 1975 | 65 | 36.6% | -3.0% | +2382.4% |
| Sep 1975 | Oct 1975 | 4 | 5.3% | +2.4% | +2309.4% |
| Dec 1975 | Dec 1975 | 3 | 5.6% | +8.3% | +2338.1% |
| May 1976 | Jul 1976 | 9 | 4.6% | +13.5% | +2309.4% |
| May 1979 | May 1979 | 1 | 0.1% | -6.2% | +2011.3% |
| May 1979 | Jun 1979 | 1 | 0.2% | -3.6% | +2011.3% |
| Sep 1979 | Nov 1979 | 9 | 3.1% | -2.0% | +1989.8% |
| Dec 1979 | Jun 1981 | 79 | 23.9% | -18.5% | +2000.5% |
| Jun 1981 | Nov 1981 | 19 | 7.6% | +7.2% | +2000.5% |
| Jan 1982 | Jan 1982 | 1 | 0.7% | +32.8% | +2033.3% |
| Oct 1990 | Oct 1990 | 4 | 1.1% | +37.3% | +622.8% |
| Jun 1994 | Jul 1994 | 4 | 2.8% | +27.8% | +416.1% |
| Aug 1994 | Aug 1994 | 1 | 0.1% | +19.9% | +397.9% |
| Aug 1994 | Oct 1994 | 6 | 4.0% | +22.9% | +394.9% |
| Oct 1994 | Dec 1994 | 6 | 3.6% | +33.2% | +389.1% |
| Nov 1999 | Mar 2000 | 19 | 11.6% | +15.6% | +242.1% |
| Jul 2000 | Jul 2000 | 2 | 0.8% | +29.1% | +228.7% |
| Jun 2007 | Mar 2008 | 41 | 12.4% | +20.7% | +51.2% |
| Dec 2008 | Dec 2009 | 55 | 44.9% | -6.2% | +44.8% |
| Jan 2010 | Feb 2010 | 4 | 7.7% | +32.3% | +53.8% |
| Apr 2014 | May 2014 | 1 | 0.1% | +41.4% | +5.7% |
| Jun 2020 | Jun 2020 | 1 | 0.1% | +26.4% | -44.6% |
| Aug 2020 | Nov 2020 | 12 | 7.6% | +35.0% | -43.5% |
| Dec 2020 | Mar 2021 | 10 | 7.2% | +20.5% | -44.8% |
| Sep 2022 | Nov 2022 | 7 | 11.7% | -64.6% | -52.0% |
| Mar 2023 | Mar 2023 | 3 | 3.3% | -67.2% | -52.6% |
| May 2023 | Jul 2023 | 9 | 5.9% | -72.1% | -52.3% |
| Jul 2023 | Ongoing | 132+ | 74.0% | Ongoing | -52.8% |
| Average | 18 | — | +6.8% | — |
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of Friday close, 2026-02-02