StockNews.com upgraded shares of Genie Energy (NYSE:GNE – Free Report) from a hold rating to a buy rating in a research note published on Wednesday.
Genie Energy Price Performance
Shares of NYSE GNE opened at $16.83 on Wednesday. The stock has a market capitalization of $456.60 million, a price-to-earnings ratio of 33.66 and a beta of 0.15. The business has a 50-day moving average of $15.28 and a 200-day moving average of $16.71. Genie Energy has a fifty-two week low of $13.07 and a fifty-two week high of $30.90.
Genie Energy (NYSE:GNE – Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported $0.33 earnings per share for the quarter. Genie Energy had a return on equity of 24.06% and a net margin of 2.99%. The company had revenue of $119.69 million during the quarter.
Genie Energy Dividend Announcement
Hedge Funds Weigh In On Genie Energy
Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its holdings in Genie Energy by 147.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,717 shares of the oil and gas producer’s stock worth $76,000 after purchasing an additional 1,620 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Genie Energy during the fourth quarter worth about $164,000. SG Americas Securities LLC bought a new position in Genie Energy during the fourth quarter worth about $211,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Genie Energy during the second quarter worth approximately $179,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Genie Energy during the fourth quarter worth approximately $357,000. Institutional investors 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.
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