Genie Energy (NYSE:GNE) Upgraded at Freedom Capital

Genie Energy (NYSE:GNE) was upgraded by research analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.

Several other research analysts also recently weighed in on GNE. Weiss Ratings downgraded shares of Genie Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 1st. Wall Street Zen downgraded shares of Genie Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy”.

Genie Energy Price Performance

Genie Energy stock opened at $13.35 on Friday. Genie Energy has a 1 year low of $12.69 and a 1 year high of $28.47. The firm has a 50 day moving average price of $14.02 and a 200 day moving average price of $14.21. The company has a market cap of $352.45 million, a price-to-earnings ratio of 16.69 and a beta of 0.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.29 and a current ratio of 2.38.

Genie Energy (NYSE:GNE) last released its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Genie Energy had a return on equity of 10.08% and a net margin of 3.18%.The business had revenue of $142.31 million for the quarter, compared to analysts’ expectations of $123.83 million.

Institutional Trading of Genie Energy

Several institutional investors have recently added to or reduced their stakes in GNE. J. Goldman & Co LP raised its holdings in shares of Genie Energy by 325.4% during the fourth quarter. J. Goldman & Co LP now owns 805,317 shares of the oil and gas producer’s stock worth $11,097,000 after purchasing an additional 616,017 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Genie Energy during the third quarter worth $4,546,000. JPMorgan Chase & Co. raised its holdings in shares of Genie Energy by 362.1% during the second quarter. JPMorgan Chase & Co. now owns 145,845 shares of the oil and gas producer’s stock worth $3,920,000 after purchasing an additional 114,283 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Genie Energy by 1,040.2% during the third quarter. Victory Capital Management Inc. now owns 104,538 shares of the oil and gas producer’s stock worth $1,563,000 after purchasing an additional 95,370 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Genie Energy by 336.8% during the second quarter. Bank of America Corp DE now owns 88,063 shares of the oil and gas producer’s stock worth $2,367,000 after purchasing an additional 67,901 shares during the period. 49.15% of the stock is 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.