Why Hawaiian Electric Industries (HE) Stock Is Moving

Hawaiian Electric Industries, Inc. HE shares are trading lower by 5.4% to $13.22 Tuesday morning, pulling back following Monday's strength. Shares gained Monday after the company released an in-depth response to the lawsuit recently filed by the County of Maui surrounding the fires on August 8.

Hawaiian Electric shares otherwise fell sharply last week after Maui County filed a lawsuit against the company alleging a role in the Lahaina Wildfires. The company also suspended its divided.

See Also: Why Hawaiian Electric Stock Exploded Higher On Monday

Hawaiian Electric on Monday said the company's records confirm that no electricity flowed in its power lines near Lahaina Intermediate School when the fire ignited.

Videos across social media taken by local residents depict power lines falling in strong winds earlier that morning, leading to the smaller fire.

According to data from Benzinga Pro, HE has a 52-week high of $43.71 and a 52-week low of $9.06.