Genie Energy Ltd. (NYSE:GNE) Short Interest Down 5.5% in November

Genie Energy Ltd. (NYSE:GNE) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 241,000 shares, a drop of 5.5% from the October 31st total of 254,900 shares. Based on an average trading volume of 60,100 shares, the days-to-cover ratio is currently 4.0 days. Currently, 1.9% of the shares of the company are short sold.

Genie Energy Stock Performance

Shares of GNE stock opened at $14.93 on Wednesday. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01. Genie Energy has a 12-month low of $14.00 and a 12-month high of $30.90. The company has a market cap of $406.10 million, a price-to-earnings ratio of 106.65 and a beta of 0.07. The stock has a 50 day simple moving average of $16.05 and a 200-day simple moving average of $15.91.

Genie Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 12th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Tuesday, November 12th. Genie Energy’s dividend payout ratio (DPR) is currently 214.30%.

Insiders Place Their Bets

In other Genie Energy news, CFO Avi Goldin sold 7,300 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $15.42, for a total transaction of $112,566.00. Following the completion of the transaction, the chief financial officer now owns 127,699 shares in the company, valued at approximately $1,969,118.58. This represents a 5.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James A. Courter sold 3,675 shares of Genie Energy stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.19, for a total transaction 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 trade was a 1.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,275 shares of company stock valued at $215,276. 16.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Genie Energy

Several institutional investors have recently made changes to their positions in GNE. Point72 DIFC Ltd boosted its holdings in Genie Energy by 11,831.6% during the second quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 2,248 shares in the last quarter. BOKF NA purchased a new stake in shares of Genie Energy during the 2nd quarter worth approximately $165,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Genie Energy in the 2nd quarter worth approximately $169,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Genie Energy in the 2nd quarter valued at approximately $179,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Genie Energy by 8.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer’s stock worth $202,000 after purchasing an additional 1,002 shares during the last quarter. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

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.