Genie Energy (NYSE:GNE) Raised to Strong-Buy at Wall Street Zen

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

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genie Energy in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Genie Energy Price Performance

Shares of GNE opened at $14.84 on Friday. The firm has a market cap of $396.36 million, a PE ratio of 15.79 and a beta of 0.05. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $15.24 and a two-hundred day simple moving average of $18.37. Genie Energy has a 1-year low of $13.05 and a 1-year high of $28.47.

Genie Energy (NYSE:GNE) last posted its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.29). Genie Energy had a return on equity of 6.40% and a net margin of 1.82%.The company had revenue of $138.32 million during the quarter, compared to the consensus estimate of $130.79 million.

Hedge Funds Weigh In On Genie Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Significant Wealth Partners LLC boosted its position in shares of Genie Energy by 3.0% in the second quarter. Significant Wealth Partners LLC now owns 16,142 shares of the oil and gas producer’s stock worth $434,000 after buying an additional 474 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Genie Energy by 71.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,171 shares of the oil and gas producer’s stock worth $58,000 after acquiring an additional 906 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in Genie Energy by 29.1% in the second 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. Federated Hermes Inc. raised its stake in shares of Genie Energy by 168.2% during the third quarter. Federated Hermes Inc. now owns 2,406 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 1,509 shares during the period. Finally, GSA Capital Partners LLP lifted its position in shares of Genie Energy by 3.4% during the first quarter. GSA Capital Partners LLP now owns 59,596 shares of the oil and gas producer’s stock worth $897,000 after purchasing an additional 1,948 shares in the last quarter. 49.15% of the stock is owned by institutional investors and hedge funds.

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.