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

Genie Energy Ltd. (NYSE:GNE) crossed 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 changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GNE shares. Wall Street Zen lowered shares of Genie Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 18th. Finally, Freedom Capital upgraded shares of Genie Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Genie Energy Price Performance

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 market cap of $387.08 million, a P/E ratio of 29.92 and a beta of 0.19. The company has a fifty day moving average price of $13.94 and a two-hundred day moving average price of $14.08.

Genie Energy (NYSE:GNE) last issued its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.04. Genie Energy had a return on equity of 9.72% and a net margin of 3.22%.The business had revenue of $142.31 million during the quarter, compared to analyst estimates of $114.23 million.

Genie Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Friday, May 22nd were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, May 22nd. Genie Energy’s dividend payout ratio is 61.22%.

Institutional Investors Weigh In On Genie Energy

Several large investors have recently made changes to their positions in the stock. Quarry LP bought a new stake in Genie Energy in the 3rd quarter valued at $35,000. State of Alaska Department of Revenue increased its holdings in Genie Energy by 236.5% during the 4th quarter. State of Alaska Department of Revenue now owns 2,830 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 1,989 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Genie Energy in the 1st quarter valued at about $85,000. New York State Common Retirement Fund raised its stake in shares of Genie Energy by 98.3% in the 2nd quarter. New York State Common Retirement Fund now owns 7,667 shares of the oil and gas producer’s stock valued at $206,000 after purchasing an additional 3,800 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Genie Energy in the second quarter valued at about $214,000. Institutional investors own 49.15% of the company’s stock.

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.