Genie Energy (NYSE:GNE) Rating Lowered to Hold at Wall Street Zen

Genie Energy (NYSE:GNE) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

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

Genie Energy Price Performance

NYSE:GNE opened at $17.66 on Friday. Genie Energy has a 12 month low of $12.69 and a 12 month high of $17.83. The stock has a 50 day moving average of $16.25 and a two-hundred day moving average of $14.70. The company has a current ratio of 2.78, a quick ratio of 2.62 and a debt-to-equity ratio of 0.02. The firm has a market cap of $464.76 million, a P/E ratio of 21.80 and a beta of 0.30.

Genie Energy (NYSE:GNE) last announced its earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The business had revenue of $100.40 million during the quarter, compared to analysts’ expectations of $104.57 million. Genie Energy had a return on equity of 13.28% and a net margin of 5.93%.

Institutional Trading of Genie Energy

A number of hedge funds have recently bought and sold shares of GNE. Arrowstreet Capital Limited Partnership boosted its holdings in shares of 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 worth $3,001,000 after purchasing an additional 10,044 shares during the last quarter. Kahn Brothers Group Inc. purchased a new stake in shares of Genie Energy in the second quarter valued at approximately $2,474,655. Quantinno Capital Management LP grew its position in shares of Genie Energy by 92.9% in the first quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer’s stock valued at $2,174,000 after purchasing an additional 74,046 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Genie Energy by 6.1% in the third quarter. Russell Investments Group Ltd. now owns 24,016 shares of the oil and gas producer’s stock valued at $384,000 after purchasing an additional 1,391 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Genie Energy in the first quarter valued at approximately $365,000. Institutional investors and hedge funds own 49.15% of the company’s stock.

About Genie Energy

Genie Energy Ltd. is an energy services company that provides electricity and natural gas to residential and small-business customers through retail energy businesses. Its offerings may include energy supply plans, renewable energy options and related services, with operations conducted through a portfolio of brands and subsidiaries.

The company’s retail energy activities have historically included serving customers in U.S. deregulated energy markets, where consumers can select an independent supplier rather than purchasing supply directly from a regulated utility.