Genie Energy (NYSE:GNE) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Genie Energy Ltd. (NYSE:GNE)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.94 and traded as low as $14.40. Genie Energy shares last traded at $14.54, with a volume of 51,953 shares changing hands.

Genie Energy Stock Down 1.7 %

The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. The stock has a market cap of $395.49 million, a P/E ratio of 103.86 and a beta of 0.07. The company’s 50 day moving average price is $15.37 and its two-hundred day moving average price is $15.94.

Genie Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.075 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.30 dividend on an annualized basis and a yield of 2.06%. Genie Energy’s dividend payout ratio is currently 214.29%.

Insider Buying and Selling

In other Genie Energy news, CFO Avi Goldin sold 7,300 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $15.42, for a total value of $112,566.00. Following the completion of the transaction, the chief financial officer now owns 127,699 shares of the company’s stock, valued at approximately $1,969,118.58. This trade represents a 5.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 16.50% of the stock is currently owned by company insiders.

Institutional Trading of Genie Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Americana Partners LLC lifted its position in shares of Genie Energy by 313.8% during the 3rd quarter. Americana Partners LLC now owns 115,545 shares of the oil and gas producer’s stock valued at $1,878,000 after buying an additional 87,625 shares in the last quarter. Cerity Partners LLC raised its position in Genie Energy by 118.5% during the third quarter. Cerity Partners LLC now owns 94,324 shares of the oil and gas producer’s stock worth $1,533,000 after acquiring an additional 51,160 shares during the period. GSA Capital Partners LLP lifted its holdings in Genie Energy by 269.5% during the third quarter. GSA Capital Partners LLP now owns 61,871 shares of the oil and gas producer’s stock valued at $1,005,000 after purchasing an additional 45,125 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Genie Energy by 214.2% in the second quarter. Cubist Systematic Strategies LLC now owns 59,776 shares of the oil and gas producer’s stock valued at $874,000 after purchasing an additional 40,752 shares during the period. Finally, Unison Advisors LLC purchased a new stake in shares of Genie Energy during the third quarter worth about $650,000. 49.15% of the stock is currently owned by institutional investors and hedge funds.

Genie Energy Company Profile

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.