Genie Energy (NYSE:GNE) Upgraded to “Strong-Buy” at Wall Street Zen

Genie Energy (NYSE:GNE) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Genie Energy in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Genie Energy Stock Performance

Shares of GNE stock opened at $14.56 on Friday. Genie Energy has a 12 month low of $13.05 and a 12 month high of $28.47. The company’s fifty day simple moving average is $14.24 and its 200-day simple moving average is $16.18. The firm has a market cap of $385.82 million, a PE ratio of 18.20 and a beta of 0.12. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.04.

Genie Energy (NYSE:GNE) last released its earnings results on Monday, November 3rd. The oil and gas producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.29). Genie Energy had a net margin of 1.00% and a return on equity of 4.47%. The business had revenue of $138.32 million during the quarter, compared to the consensus estimate of $130.79 million.

Hedge Funds Weigh In On Genie Energy

A number of large investors have recently made changes to their positions in GNE. Geode Capital Management LLC raised its stake in Genie Energy by 22.5% in the 2nd quarter. Geode Capital Management LLC now owns 559,916 shares of the oil and gas producer’s stock worth $15,054,000 after purchasing an additional 102,702 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Genie Energy during the second quarter worth approximately $170,000. Strs Ohio bought a new position in shares of Genie Energy during the first quarter worth approximately $500,000. Intech Investment Management LLC raised its position in shares of Genie Energy by 27.3% in the second quarter. Intech Investment Management LLC now owns 16,232 shares of the oil and gas producer’s stock valued at $436,000 after buying an additional 3,486 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Genie Energy in the second quarter valued at approximately $175,000. Institutional investors own 49.15% of the company’s stock.

Genie Energy Company Profile

Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.