Genie Energy Ltd. (NYSE:GNE) Short Interest Update

Genie Energy Ltd. (NYSE:GNE) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 314,900 shares, a decrease of 6.9% from the August 31st total of 338,100 shares. Based on an average daily volume of 90,200 shares, the days-to-cover ratio is presently 3.5 days. Currently, 2.5% of the company’s shares are sold short.

Insider Activity

In related news, Director James A. Courter sold 3,675 shares of the firm’s stock in a transaction 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 sale, the director now owns 304,411 shares of the company’s stock, valued at $5,232,825.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James A. Courter sold 3,675 shares of Genie Energy stock in a transaction dated 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 sale, the director now directly owns 304,411 shares in the company, valued at approximately $5,232,825.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Avi Goldin sold 2,300 shares of Genie Energy stock in a transaction dated 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 sale, the chief financial officer now owns 134,999 shares of the company’s stock, valued at $2,320,632.81. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.

Institutional Trading of Genie Energy

Large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd increased its stake in Genie Energy by 11,831.6% in the 2nd quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 2,248 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Genie Energy by 41.9% during the 1st quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock valued at $161,000 after purchasing an additional 3,144 shares during the last quarter. BOKF NA bought a new position in shares of Genie Energy during the 2nd quarter valued at approximately $165,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Genie Energy during the 2nd quarter valued at approximately $169,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Genie Energy during the 2nd quarter valued at approximately $179,000. Institutional investors own 49.15% of the company’s stock.

Genie Energy Stock Down 1.1 %

NYSE GNE traded down $0.18 during trading hours on Tuesday, reaching $16.07. The company’s stock had a trading volume of 41,656 shares, compared to its average volume of 127,605. The firm’s 50-day moving average price is $16.47 and its 200-day moving average price is $15.76. Genie Energy has a 1 year low of $14.00 and a 1 year high of $30.90. The company has a market capitalization of $436.00 million, a price-to-earnings ratio of 32.50 and a beta of 0.09.

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. Genie Energy had a return on equity of 23.30% and a net margin of 1.75%. The company had revenue of $90.70 million for the quarter.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 14th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, August 14th. Genie Energy’s payout ratio is 60.00%.

Wall Street Analysts Forecast Growth

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

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.