Zurcher Kantonalbank Zurich Cantonalbank Purchases New Position in Genie Energy Ltd. (NYSE:GNE)

Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Genie Energy Ltd. (NYSE:GNE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,826 shares of the oil and gas producer’s stock, valued at approximately $164,000.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Genie Energy in the third quarter valued at approximately $646,000. Strs Ohio increased its stake in Genie Energy by 1,631.8% during the 3rd quarter. Strs Ohio now owns 38,100 shares of the oil and gas producer’s stock worth $561,000 after buying an additional 35,900 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Genie Energy during the third quarter valued at approximately $444,000. Brandywine Global Investment Management LLC lifted its position in shares of Genie Energy by 61.3% in the third quarter. Brandywine Global Investment Management LLC now owns 78,603 shares of the oil and gas producer’s stock valued at $1,158,000 after acquiring an additional 29,883 shares in the last quarter. Finally, Granite Bay Wealth Management LLC boosted its stake in shares of Genie Energy by 205.8% in the fourth quarter. Granite Bay Wealth Management LLC now owns 39,375 shares of the oil and gas producer’s stock worth $1,108,000 after acquiring an additional 26,500 shares during the last quarter. 49.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Genie Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th.

Genie Energy Stock Performance

Shares of Genie Energy stock opened at $14.78 on Thursday. The business’s 50 day moving average price is $16.05 and its 200 day moving average price is $20.49. The company has a market cap of $404.38 million, a price-to-earnings ratio of 19.97 and a beta of 0.17. Genie Energy Ltd. has a one year low of $12.95 and a one year high of $30.90.

Genie Energy (NYSE:GNE) last announced its quarterly earnings data on Monday, March 11th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter. Genie Energy had a net margin of 4.56% and a return on equity of 25.39%. The firm had revenue of $104.90 million during the quarter.

Genie Energy Profile

Genie Energy Ltd., through its subsidiaries, engages in the supply of electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, GRE and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy brokerage and advisory services; markets community solar energy solutions; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.