Genie Energy (NYSE:GNE) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Genie Energy Ltd. (NYSE:GNE) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $15.83 and traded as high as $16.31. Genie Energy shares last traded at $16.15, with a volume of 44,330 shares.

Analyst Ratings Changes

Separately, StockNews.com raised Genie Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

Genie Energy Price Performance

The firm has a market capitalization of $438.17 million, a PE ratio of 32.30 and a beta of 0.08. The stock has a 50-day moving average price of $16.50 and a 200-day moving average price of $15.83.

Genie Energy (NYSE:GNE) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.37 EPS for the quarter. The business had revenue of $90.70 million during the quarter. Genie Energy had a return on equity of 23.30% and a net margin of 1.75%.

Genie Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 14th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.86%. Genie Energy’s dividend payout ratio (DPR) is 60.00%.

Insider Buying and Selling at Genie Energy

In other Genie Energy news, Director James A. Courter sold 3,675 shares of Genie Energy stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.19, for a total value of $63,173.25. Following the completion of the transaction, the director now directly owns 304,411 shares in the company, valued at $5,232,825.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Genie Energy news, CFO Avi Goldin sold 2,300 shares of Genie Energy stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $17.19, for a total value of $39,537.00. Following the completion of the transaction, the chief financial officer now directly owns 134,999 shares in the company, valued at $2,320,632.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James A. Courter sold 3,675 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.19, for a total value of $63,173.25. Following the transaction, the director now owns 304,411 shares of the company’s stock, valued at approximately $5,232,825.09. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Genie Energy

Several hedge funds and other institutional investors have recently made changes to their positions in GNE. Allspring Global Investments Holdings LLC raised its holdings in Genie Energy by 1.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 80,676 shares of the oil and gas producer’s stock worth $1,311,000 after purchasing an additional 1,046 shares in the last quarter. Unison Advisors LLC bought a new stake in Genie Energy during the third quarter worth approximately $650,000. Point72 DIFC Ltd raised its holdings in Genie Energy by 11,831.6% during the second quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 2,248 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Genie Energy during the second quarter worth approximately $169,000. Finally, Algert Global LLC raised its holdings in Genie Energy by 190.1% during the second quarter. Algert Global LLC now owns 39,798 shares of the oil and gas producer’s stock worth $582,000 after purchasing an additional 26,078 shares in the last quarter. 49.15% of the stock is currently owned by institutional investors and hedge funds.

About Genie Energy

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.