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

Shares of Genie Energy Ltd. (NYSE:GNE) passed below its 200-day moving average during trading on Monday . The stock has a 200-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.

Analyst Upgrades and Downgrades

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

Genie Energy Stock Up 0.6%

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

Genie Energy (NYSE:GNE) last released its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. The firm had revenue of $142.31 million during 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Friday, May 22nd were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.1%. Genie Energy’s dividend payout ratio (DPR) is presently 61.22%.

Hedge Funds Weigh In On Genie Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in shares of Genie Energy during the 3rd quarter worth approximately $35,000. State of Alaska Department of Revenue grew its stake in 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 valued at $38,000 after acquiring an additional 1,989 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Genie Energy in the 1st quarter valued at $85,000. Virtus Advisers LLC purchased a new stake in Genie Energy in the 3rd quarter worth $124,000. Finally, Vise Technologies Inc. purchased a new stake in Genie Energy in the 4th quarter worth $159,000. Hedge funds and other 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.