Genie Energy (NYSE:GNE) Upgraded by StockNews.com to Strong-Buy Rating

Genie Energy (NYSE:GNE) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.

Genie Energy Stock Performance

Shares of GNE stock opened at $14.10 on Wednesday. The firm has a market capitalization of $383.38 million, a price-to-earnings ratio of 100.69 and a beta of 0.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47. The business has a fifty day moving average of $14.56 and a 200 day moving average of $15.48. Genie Energy has a 1 year low of $13.05 and a 1 year high of $17.93.

Hedge Funds Weigh In On Genie Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in Genie Energy by 7.7% in the 4th quarter. Legal & General Group Plc now owns 19,166 shares of the oil and gas producer’s stock worth $299,000 after acquiring an additional 1,375 shares during the last quarter. American Century Companies Inc. grew its position in Genie Energy by 4.9% during the 4th quarter. American Century Companies Inc. now owns 33,752 shares of the oil and gas producer’s stock worth $526,000 after purchasing an additional 1,566 shares during the period. Wells Fargo & Company MN grew its position in Genie Energy by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer’s stock worth $120,000 after purchasing an additional 1,699 shares during the period. Charles Schwab Investment Management Inc. grew its position in Genie Energy by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 41,960 shares of the oil and gas producer’s stock worth $682,000 after purchasing an additional 1,891 shares during the period. Finally, R Squared Ltd acquired a new stake in Genie Energy during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 49.15% of the company’s stock.

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.