StockNews.com upgraded shares of Genie Energy (NYSE:GNE – Free Report) from a buy rating to a strong-buy rating in a report issued on Wednesday morning.
Genie Energy Price Performance
GNE opened at $16.55 on Wednesday. The stock’s 50-day moving average price is $14.98 and its 200 day moving average price is $15.03. Genie Energy has a 12-month low of $13.05 and a 12-month high of $17.93. The firm has a market cap of $447.02 million, a price-to-earnings ratio of 118.22 and a beta of -0.02. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01.
Genie Energy (NYSE:GNE – Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $136.81 million for the quarter. Genie Energy had a net margin of 0.80% and a return on equity of 21.48%.
Genie Energy Dividend Announcement
Institutional Investors Weigh In On Genie Energy
Several large investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new position in shares of Genie Energy in the 4th quarter valued at about $37,000. SG Americas Securities LLC acquired a new stake in Genie Energy in the fourth quarter valued at approximately $107,000. Wells Fargo & Company MN lifted its stake in Genie Energy by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer’s stock worth $120,000 after acquiring an additional 1,699 shares during the last quarter. PDT Partners LLC acquired a new position in Genie Energy during the 4th quarter worth approximately $174,000. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of Genie Energy in the 4th quarter valued at approximately $209,000. Hedge funds and other institutional investors own 49.15% of the company’s stock.
About Genie Energy
Genie Energy Ltd., through its subsidiaries, engages in the supply of electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, GRE and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy brokerage and advisory services; markets community solar energy solutions; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.
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