Genie Energy (NYSE:GNE) Stock Crosses Above 50-Day Moving Average – Here’s Why

Genie Energy Ltd. (NYSE:GNE) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $14.08 and traded as high as $14.65. Genie Energy shares last traded at $14.2950, with a volume of 77,775 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GNE shares. Weiss Ratings raised shares of Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 18th. Freedom Capital upgraded Genie Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Finally, Wall Street Zen lowered Genie Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Genie Energy has a consensus rating of “Buy”.

Genie Energy Trading Down 1.2%

The stock’s fifty day moving average price is $14.08 and its 200 day moving average price is $14.11. The stock has a market cap of $377.39 million, a P/E ratio of 29.17 and a beta of 0.19. The company has a current ratio of 2.54, a quick ratio of 2.44 and a debt-to-equity ratio of 0.03.

Genie Energy (NYSE:GNE) last issued its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The company had revenue of $142.31 million during the quarter, compared to analysts’ expectations of $114.23 million. Genie Energy had a net margin of 3.22% and a return on equity of 9.72%.

Genie Energy Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio raised its stake in Genie Energy by 2.6% during the fourth quarter. Strs Ohio now owns 39,800 shares of the oil and gas producer’s stock valued at $548,000 after buying an additional 1,000 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of 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 acquiring an additional 1,049 shares in the last quarter. Bailard Inc. raised its position 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 purchasing an additional 1,500 shares during the last quarter. State of Alaska Department of Revenue raised its position 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 purchasing an additional 1,989 shares during the last quarter. Finally, Quarry LP bought a new position in Genie Energy in the 3rd quarter worth about $35,000. Institutional investors own 49.15% of the company’s stock.

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.