Genie Energy (NYSE:GNE) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Genie Energy Ltd. (NYSE:GNE) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.08 and traded as low as $13.90. Genie Energy shares last traded at $14.06, with a volume of 87,520 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GNE. Freedom Capital upgraded Genie Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Wall Street Zen downgraded Genie Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings raised Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Genie Energy Trading Up 0.6%

The company has a quick ratio of 2.44, a current ratio of 2.54 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $13.93 and a 200 day simple moving average of $14.08. The firm has a market capitalization of $371.18 million, a P/E ratio of 28.69 and a beta of 0.19.

Genie Energy (NYSE:GNE) last announced its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. The business had revenue of $142.31 million for the quarter, compared to the consensus estimate of $114.23 million. Genie Energy had a return on equity of 9.72% and a net margin of 3.22%.

Genie Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Friday, May 22nd were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.30 dividend on an annualized basis and a yield of 2.1%. Genie Energy’s payout ratio is currently 61.22%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio increased its position in Genie Energy by 2.6% in the fourth quarter. Strs Ohio now owns 39,800 shares of the oil and gas producer’s stock worth $548,000 after purchasing an additional 1,000 shares during the last quarter. First Trust Advisors LP lifted its position in Genie Energy by 1.6% during the fourth quarter. First Trust Advisors LP now owns 66,180 shares of the oil and gas producer’s stock valued at $912,000 after purchasing an additional 1,049 shares during the last quarter. Bailard Inc. grew its stake in shares of Genie Energy by 8.5% in the 4th quarter. Bailard Inc. now owns 19,139 shares of the oil and gas producer’s stock worth $264,000 after buying an additional 1,500 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Genie Energy by 236.5% in the 4th quarter. State of Alaska Department of Revenue now owns 2,830 shares of the oil and gas producer’s stock worth $38,000 after buying an additional 1,989 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Genie Energy in the 3rd quarter worth about $35,000. 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.