Genie Energy Ltd. (NYSE:GNE) Short Interest Update

Genie Energy Ltd. (NYSE:GNE) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 278,500 shares, a drop of 11.6% from the September 15th total of 314,900 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 71,100 shares, the short-interest ratio is currently 3.9 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Genie Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Genie Energy Stock Up 0.1 %

Shares of GNE traded up $0.02 during mid-day trading on Thursday, hitting $16.69. 571 shares of the company’s stock were exchanged, compared to its average volume of 123,125. Genie Energy has a 52 week low of $14.00 and a 52 week high of $30.90. The stock’s 50-day simple moving average is $16.45 and its 200-day simple moving average is $15.81. The firm has a market cap of $452.82 million, a price-to-earnings ratio of 33.34 and a beta of 0.08.

Genie Energy (NYSE:GNE) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.37 EPS for the quarter. The firm had revenue of $90.70 million for the quarter. Genie Energy had a return on equity of 23.30% and a net margin of 1.75%.

Genie Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Wednesday, August 14th. Genie Energy’s dividend payout ratio (DPR) is currently 60.00%.

Insider Activity

In related news, Director James A. Courter sold 3,675 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.19, for a total value of $63,173.25. Following the sale, the director now owns 304,411 shares in the company, valued at approximately $5,232,825.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Avi Goldin sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $17.19, for a total value of $39,537.00. Following the transaction, the chief financial officer now owns 134,999 shares of the company’s stock, valued at approximately $2,320,632.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James A. Courter sold 3,675 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.19, for a total value of $63,173.25. Following the transaction, the director now owns 304,411 shares in the company, valued at approximately $5,232,825.09. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd increased its position in Genie Energy by 11,831.6% in the 2nd quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 2,248 shares during the period. SG Americas Securities LLC boosted its holdings in Genie Energy by 41.9% in the first quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock valued at $161,000 after acquiring an additional 3,144 shares during the last quarter. BOKF NA bought a new position in Genie Energy during the second quarter worth $165,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Genie Energy during the 2nd quarter worth about $169,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Genie Energy in the 2nd quarter worth about $179,000. Institutional investors own 49.15% of the company’s stock.

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.