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

Genie Energy Ltd. (NYSE:GNE)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.11 and traded as low as $13.95. Genie Energy shares last traded at $14.1570, with a volume of 76,292 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Freedom Capital raised shares of Genie Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Wall Street Zen cut shares of Genie Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised shares of Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy”.

Genie Energy Stock Up 0.9%

The firm has a market cap of $373.74 million, a price-to-earnings ratio of 28.89 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. The firm has a 50 day moving average price of $14.08 and a 200-day moving average price of $14.11.

Genie Energy (NYSE:GNE) last released its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $142.31 million for the quarter, compared to analyst estimates 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Friday, May 22nd were given a dividend of $0.075 per share. The ex-dividend date 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 presently 61.22%.

Institutional Trading of Genie Energy

Several large investors have recently modified their holdings of the business. Empowered Funds LLC acquired a new position in shares of Genie Energy during the 1st quarter worth approximately $204,000. Quantinno Capital Management LP lifted its stake in Genie Energy by 92.9% in the 1st quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer’s stock valued at $2,174,000 after buying an additional 74,046 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Genie Energy by 5.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer’s stock valued at $3,001,000 after buying an additional 10,044 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Genie Energy during the 1st quarter valued at $365,000. Finally, Invesco Ltd. increased its position in Genie Energy by 12.9% during the fourth quarter. Invesco Ltd. now owns 32,693 shares of the oil and gas producer’s stock worth $451,000 after buying an additional 3,727 shares in the last quarter. 49.15% of the stock is currently owned by institutional investors and hedge funds.

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.