Genie Energy (NYSE:GNE) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Genie Energy Ltd. (NYSE:GNE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.24 and traded as high as $15.57. Genie Energy shares last traded at $15.52, with a volume of 53,467 shares traded.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Freedom Capital lowered shares of Genie Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Genie Energy Price Performance

The company has a 50 day simple moving average of $14.55 and a 200-day simple moving average of $14.24. The stock has a market cap of $408.49 million, a price-to-earnings ratio of 19.16 and a beta of 0.19. The company has a quick ratio of 2.75, a current ratio of 2.89 and a debt-to-equity ratio of 0.03.

Genie Energy (NYSE:GNE) last issued its earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.25 by $0.18. Genie Energy had a return on equity of 12.80% and a net margin of 5.05%.The company had revenue of $100.40 million during the quarter, compared to analyst estimates of $104.57 million.

Genie Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Friday, August 14th were paid a dividend of $0.075 per share. The ex-dividend date was Friday, August 14th. This represents a $0.30 annualized dividend and a yield of 1.9%. Genie Energy’s dividend payout ratio (DPR) is 37.04%.

Institutional Trading of Genie Energy

Several institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Genie Energy during the first quarter worth $85,000. Jacobs Levy Equity Management Inc. acquired a new stake in Genie Energy during the first quarter worth about $320,000. Dynamic Technology Lab Private Ltd acquired a new stake in Genie Energy during the first quarter worth about $239,000. Goldman Sachs Group Inc. lifted its holdings in Genie Energy by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 146,364 shares of the oil and gas producer’s stock worth $2,203,000 after acquiring an additional 19,671 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Genie Energy by 128.9% in the first quarter. Jane Street Group LLC now owns 45,372 shares of the oil and gas producer’s stock worth $683,000 after acquiring an additional 25,548 shares during the last quarter. 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.