Wall Street Zen Upgrades Genie Energy (NYSE:GNE) to Strong-Buy

Genie Energy (NYSE:GNE) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

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

Genie Energy Stock Down 0.9%

NYSE GNE opened at $14.56 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. The company has a market cap of $385.89 million, a price-to-earnings ratio of 18.20 and a beta of 0.12. The company has a 50 day moving average of $14.24 and a 200-day moving average of $16.04. Genie Energy has a 1-year low of $13.05 and a 1-year high of $28.47.

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

Institutional Trading of Genie Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of 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 worth $15,054,000 after purchasing an additional 102,702 shares during the last quarter. AlphaQuest LLC acquired a new stake in Genie Energy during the 2nd quarter worth approximately $170,000. Strs Ohio acquired a new stake in Genie Energy during the 1st quarter worth approximately $500,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Genie Energy during the 2nd quarter worth approximately $175,000. Finally, Intech Investment Management LLC increased its position in Genie Energy by 27.3% in the 2nd quarter. Intech Investment Management LLC now owns 16,232 shares of the oil and gas producer’s stock valued at $436,000 after acquiring an additional 3,486 shares during the period. 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.