StockNews.com Downgrades Genie Energy (NYSE:GNE) to Buy

Genie Energy (NYSE:GNE) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Genie Energy Stock Performance

Genie Energy stock opened at $14.85 on Thursday. 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 company has a market capitalization of $403.97 million, a P/E ratio of 106.09 and a beta of 0.02. The stock’s 50 day moving average is $14.47 and its 200 day moving average is $15.39. Genie Energy has a twelve month low of $13.05 and a twelve month high of $17.93.

Institutional Trading of Genie Energy

Several institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new position in shares of Genie Energy during the 3rd quarter valued at $433,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 valued at $682,000 after buying an additional 1,891 shares during the period. Cerity Partners LLC lifted its holdings in shares of Genie Energy by 118.5% during the 3rd quarter. Cerity Partners LLC now owns 94,324 shares of the oil and gas producer’s stock valued at $1,533,000 after buying an additional 51,160 shares during the period. Martingale Asset Management L P lifted its holdings in shares of Genie Energy by 16.4% during the 3rd quarter. Martingale Asset Management L P now owns 36,791 shares of the oil and gas producer’s stock valued at $598,000 after buying an additional 5,197 shares during the period. Finally, State Street Corp lifted its holdings in shares of Genie Energy by 2.4% during the 3rd quarter. State Street Corp now owns 520,358 shares of the oil and gas producer’s stock valued at $8,456,000 after buying an additional 11,981 shares during the period. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

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.