Wall Street Zen Downgrades Genie Energy (NYSE:GNE) to Buy

Key Points

• Genie Energy has been downgraded from a "strong-buy" to a "buy" rating by analysts at Wall Street Zen.
• Shares of Genie Energy opened at $16.17, with a 52-week range of $13.05 to $28.47.
• Insider activity included Director Allan Sass selling 2,920 shares, resulting in a 7.02% decrease in his position.

Genie Energy (NYSE:GNE - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

Genie Energy Stock Performance

GNE stock traded down $0.32 during mid-day trading on Friday, hitting $15.97. The company had a trading volume of 249,112 shares, compared to its average volume of 132,509. The firm has a market cap of $428.71 million, a PE ratio of 113.75 and a beta of 0.15. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.85 and a current ratio of 1.99. Genie Energy has a 12 month low of $13.05 and a 12 month high of $28.47. The stock's fifty day moving average price is $22.74 and its two-hundred day moving average price is $18.06.

Genie Energy (NYSE:GNE - Get Free Report) last posted its earnings results on Thursday, August 7th. The oil and gas producer reported $0.11 earnings per share for the quarter. Genie Energy had a net margin of 1.82% and a return on equity of 6.40%.

Insider Buying and Selling

In other Genie Energy news, Director Allan Sass sold 2,920 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $17.72, for a total value of $51,742.40. Following the completion of the transaction, the director owned 38,690 shares of the company's stock, valued at $685,586.80. The trade was a 7.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genie Energy

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Genie Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 1,270,284 shares of the oil and gas producer's stock valued at $19,804,000 after buying an additional 39,749 shares during the period. J. Goldman & Co LP boosted its holdings in shares of Genie Energy by 14.8% in the fourth quarter. J. Goldman & Co LP now owns 676,268 shares of the oil and gas producer's stock worth $10,543,000 after buying an additional 87,206 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Genie Energy by 22.5% in the second quarter. Geode Capital Management LLC now owns 559,916 shares of the oil and gas producer's stock worth $15,054,000 after buying an additional 102,702 shares during the last quarter. Americana Partners LLC boosted its holdings in shares of Genie Energy by 3.9% in the second quarter. Americana Partners LLC now owns 165,355 shares of the oil and gas producer's stock worth $4,445,000 after buying an additional 6,155 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Genie Energy by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 146,364 shares of the oil and gas producer's stock worth $2,203,000 after buying an additional 19,671 shares during the last quarter. Hedge funds and other 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.