Genie Energy (NYSE:GNE) Cut to “Buy” at Wall Street Zen

Genie Energy (NYSE:GNE) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Genie Energy Stock Up 0.5%

Shares of NYSE GNE opened at $16.17 on Friday. Genie Energy has a 52-week low of $13.05 and a 52-week high of $28.47. The firm has a fifty day moving average of $22.84 and a 200-day moving average of $18.00. The stock has a market capitalization of $434.03 million, a PE ratio of 115.46 and a beta of 0.15. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.04.

Genie Energy (NYSE:GNE) last announced its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter. Genie Energy had a net margin of 1.82% and a return on equity of 6.38%.

Insider Activity

In related news, Director Allan Sass sold 2,920 shares of Genie Energy stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $17.72, for a total transaction of $51,742.40. Following the transaction, the director owned 38,690 shares in the company, valued at approximately $685,586.80. The trade was a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Genie Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC lifted its holdings in shares of Genie Energy by 27.3% during the 2nd quarter. Intech Investment Management LLC now owns 16,232 shares of the oil and gas producer’s stock valued at $436,000 after acquiring an additional 3,486 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Genie Energy by 29.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,691 shares of the oil and gas producer’s stock valued at $126,000 after acquiring an additional 1,057 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Genie Energy by 22.5% during the 2nd quarter. Geode Capital Management LLC now owns 559,916 shares of the oil and gas producer’s stock valued at $15,054,000 after acquiring an additional 102,702 shares in the last quarter. Americana Partners LLC lifted its holdings in shares of Genie Energy by 3.9% during the 2nd quarter. Americana Partners LLC now owns 165,355 shares of the oil and gas producer’s stock valued at $4,445,000 after acquiring an additional 6,155 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Genie Energy during the 2nd quarter valued at $175,000. Institutional investors and hedge funds own 49.15% of the company’s stock.

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.