Genie Energy (NYSE:GNE) Shares Pass Below 200-Day Moving Average – Here’s Why

Genie Energy Ltd. (NYSE:GNE)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.73 and traded as low as $13.93. Genie Energy shares last traded at $14.06, with a volume of 59,551 shares traded.

Analyst Upgrades and Downgrades

GNE has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Genie Energy in a research report on Thursday, January 22nd. Wall Street Zen upgraded Genie Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Genie Energy Price Performance

The business has a 50-day moving average price of $14.14 and a two-hundred day moving average price of $14.73. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $372.59 million, a price-to-earnings ratio of 17.58 and a beta of 0.12.

Genie Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $0.30 annualized dividend and a dividend yield of 2.1%. Genie Energy’s payout ratio is presently 37.50%.

Hedge Funds Weigh In On Genie Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. J. Goldman & Co LP lifted its holdings in shares of Genie Energy by 325.4% in the fourth quarter. J. Goldman & Co LP now owns 805,317 shares of the oil and gas producer’s stock valued at $11,097,000 after purchasing an additional 616,017 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Genie Energy in the 3rd quarter valued at $4,546,000. JPMorgan Chase & Co. lifted its stake in Genie Energy by 362.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 145,845 shares of the oil and gas producer’s stock valued at $3,920,000 after acquiring an additional 114,283 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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. Finally, Victory Capital Management Inc. boosted its holdings in Genie Energy by 1,040.2% during the 3rd quarter. Victory Capital Management Inc. now owns 104,538 shares of the oil and gas producer’s stock worth $1,563,000 after acquiring an additional 95,370 shares during the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

About Genie Energy

Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.