Genie Energy (NYSE:GNE) Downgraded to "Buy" Rating by Wall Street Zen

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 equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

Genie Energy Trading Up 0.7%

Shares of GNE traded up $0.12 during mid-day trading on Friday, reaching $16.12. The stock had a trading volume of 72,209 shares, compared to its average volume of 132,834. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.99 and a quick ratio of 1.85. Genie Energy has a 52-week low of $13.05 and a 52-week high of $28.47. The business's fifty day moving average is $22.63 and its 200 day moving average is $18.05. The firm has a market cap of $432.69 million, a price-to-earnings ratio of 114.61 and a beta of 0.15.

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

Insiders Place Their Bets

In other Genie Energy news, Director Allan Sass sold 2,920 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $17.72, for a total transaction 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. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 17.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GNE. American Century Companies Inc. boosted its stake in Genie Energy by 4.9% during the fourth quarter. American Century Companies Inc. now owns 33,752 shares of the oil and gas producer's stock worth $526,000 after buying an additional 1,566 shares during the period. Vanguard Group Inc. lifted its position in shares of Genie Energy by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 1,270,284 shares of the oil and gas producer's stock worth $19,804,000 after purchasing an additional 39,749 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Genie Energy by 64.5% during the fourth quarter. JPMorgan Chase & Co. now owns 21,993 shares of the oil and gas producer's stock worth $343,000 after purchasing an additional 8,625 shares in the last quarter. Pictet Asset Management Holding SA acquired a new stake in shares of Genie Energy during the fourth quarter worth about $209,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Genie Energy during the fourth quarter worth about $256,000. 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.