Genie Energy (NYSE:GNE) Cut to "Hold" at Freedom Capital

Key Points

• Freedom Capital downgraded Genie Energy from “strong-buy” to “hold,” joining other analysts whose ratings give the stock an overall “Hold” consensus.
• Genie Energy shares opened at $14.41, near their 50-day and 200-day moving averages, with a market capitalization of approximately $380 million and a 12-month range of $12.69 to $16.60.
• The company reported quarterly earnings of $0.43 per share, exceeding the $0.25 consensus estimate, while revenue of $100.4 million came in below expectations of $104.57 million; institutional investors own 49.15% of the stock.

Genie Energy (NYSE:GNE - Get Free Report) was downgraded by Freedom Capital from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Weiss Ratings raised Genie Energy from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 18th. Wall Street Zen downgraded Genie Energy from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Genie Energy has an average rating of "Hold".

Genie Energy Price Performance

Shares of NYSE:GNE opened at $14.41 on Monday. The company's fifty day moving average price is $14.20 and its 200 day moving average price is $14.12. Genie Energy has a 12 month low of $12.69 and a 12 month high of $16.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.54 and a quick ratio of 2.44. The firm has a market capitalization of $380.42 million, a P/E ratio of 29.41 and a beta of 0.20.

Genie Energy (NYSE:GNE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.18. Genie Energy had a net margin of 4.95% and a return on equity of 13.00%. The firm had revenue of $100.40 million during the quarter, compared to analysts' expectations of $104.57 million.

Hedge Funds Weigh In On Genie Energy

Large investors have recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Genie Energy during the third quarter worth about $35,000. State of Alaska Department of Revenue lifted its holdings in shares of Genie Energy by 236.5% in the 4th quarter. State of Alaska Department of Revenue now owns 2,830 shares of the oil and gas producer's stock valued at $38,000 after buying an additional 1,989 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Genie Energy in the first quarter valued at approximately $85,000. Virtus Advisers LLC purchased a new stake in shares of Genie Energy in the third quarter valued at approximately $124,000. Finally, Vise Technologies Inc. acquired a new position in Genie Energy during the fourth quarter worth $159,000. Hedge funds and other institutional investors own 49.15% of the company's stock.

About Genie Energy

Genie Energy Ltd. NYSE: GNE is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel's Shefela basin and Jordan's oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.

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