Genie Energy (NYSE:GNE) Shares Pass Below 200 Day Moving Average – Should You Sell?

Shares of Genie Energy Ltd. (NYSE:GNE) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.73 and traded as low as $13.93. Genie Energy shares last traded at $14.06, with a volume of 59,551 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GNE shares. Wall Street Zen raised shares of Genie Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. Weiss Ratings restated a “hold (c)” rating on shares of Genie Energy in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Genie Energy Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.91. The company has a market cap of $372.59 million, a PE ratio of 17.58 and a beta of 0.12. The company’s 50 day moving average price is $14.14 and its 200-day moving average price is $14.73.

Genie Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Wednesday, February 18th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, February 18th. Genie Energy’s payout ratio is currently 37.50%.

Hedge Funds Weigh In On Genie Energy

A number of large investors have recently modified their holdings of GNE. J. Goldman & Co LP grew its position in Genie Energy by 325.4% during the fourth quarter. J. Goldman & Co LP now owns 805,317 shares of the oil and gas producer’s stock worth $11,097,000 after buying an additional 616,017 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Genie Energy during the third quarter worth approximately $4,546,000. JPMorgan Chase & Co. boosted its position in Genie Energy by 362.1% during the second quarter. JPMorgan Chase & Co. now owns 145,845 shares of the oil and gas producer’s stock valued at $3,920,000 after buying an additional 114,283 shares during the period. Geode Capital Management LLC boosted its position in Genie Energy by 22.5% during the second quarter. Geode Capital Management LLC now owns 559,916 shares of the oil and gas producer’s stock valued at $15,054,000 after buying an additional 102,702 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Genie Energy by 1,040.2% during the third quarter. Victory Capital Management Inc. now owns 104,538 shares of the oil and gas producer’s stock valued at $1,563,000 after buying an additional 95,370 shares during the last quarter. 49.15% of the stock is currently owned by institutional investors.

About Genie Energy

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.