Genie Energy (NYSE:GNE) Stock Moved Up to “Buy” by Wall Street Zen

Genie Energy (NYSE:GNE) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages also recently issued reports on GNE. Weiss Ratings restated a “hold (c)” rating on shares of Genie Energy in a research report on Monday, September 14th. Freedom Capital lowered shares of Genie Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has an average rating of “Hold”.

Genie Energy Stock Performance

Shares of NYSE GNE opened at $16.72 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.75 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $15.70 and a 200 day moving average price of $14.65. Genie Energy has a 52 week low of $12.69 and a 52 week high of $17.11.

Genie Energy (NYSE:GNE) last released its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. The business had revenue of $100.40 million for the quarter, compared to analysts’ expectations of $104.57 million. Genie Energy had a return on equity of 12.80% and a net margin of 5.05%.

Institutional Investors Weigh In On Genie Energy

Institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of Genie Energy by 5.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer’s stock valued at $3,001,000 after purchasing an additional 10,044 shares during the last quarter. Kahn Brothers Group Inc. acquired a new stake in Genie Energy in the 2nd quarter valued at approximately $2,474,655. Quantinno Capital Management LP boosted its position in Genie Energy by 92.9% during the 1st quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer’s stock worth $2,174,000 after acquiring an additional 74,046 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of Genie Energy in the first quarter worth $365,000. Finally, Empowered Funds LLC acquired a new stake in Genie Energy in the first quarter worth about $204,000. Institutional investors own 49.15% of the company’s stock.

About Genie Energy

Genie Energy Ltd. is an energy services company that supplies electricity and natural gas to residential and small-business customers, primarily through retail energy operations in deregulated markets. Its retail businesses market energy plans and related services directly to consumers and businesses, offering alternatives to traditional utility supply arrangements.

The company’s activities also include renewable energy and energy-related services. Through its renewable energy operations, Genie Energy develops and markets solar power solutions, while its energy services businesses provide brokerage, consulting and other support designed to help customers manage their energy needs.

Genie Energy was formed in 2011 as a spin-off from IDT Corporation and is headquartered in Newark, New Jersey.