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

Key Points

• Genie Energy was downgraded from “buy” to “hold” by Wall Street Zen, while Weiss Ratings also lowered its view slightly. The stock’s overall analyst consensus now sits at Hold.
• The company reported Q1 earnings of $0.14 per share, missing estimates of $0.18, and revenue of $121.59 million, also below expectations. It posted a 1.00% net margin and 4.47% return on equity.
• GNE shares fell 1.3% to open at $14.49, near their 50-day and 200-day moving averages, with a market cap of about $383.85 million. Institutional ownership remains significant, with hedge funds and other investors holding 49.15% of the stock.

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

Separately, Weiss Ratings lowered Genie Energy from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

Genie Energy Stock Down 1.3%

GNE stock opened at $14.49 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. The company's 50 day moving average is $14.10 and its 200 day moving average is $14.27. The stock has a market cap of $383.85 million, a price-to-earnings ratio of 18.11 and a beta of 0.20. Genie Energy has a 1-year low of $13.19 and a 1-year high of $28.47.

Genie Energy (NYSE:GNE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.04). The firm had revenue of $121.59 million during the quarter, compared to analysts' expectations of $123.83 million. Genie Energy had a return on equity of 4.47% and a net margin of 1.00%.

Institutional Trading of Genie Energy

Institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Genie Energy during the third quarter valued at approximately $35,000. Federated Hermes Inc. boosted its stake in shares of Genie Energy by 168.2% during the third quarter. Federated Hermes Inc. now owns 2,406 shares of the oil and gas producer's stock valued at $36,000 after purchasing an additional 1,509 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Genie Energy by 236.5% during the fourth 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 acquiring an additional 1,989 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Genie Energy in the first quarter worth $85,000. Finally, New York State Common Retirement Fund lifted its stake in Genie Energy by 98.3% in the second quarter. New York State Common Retirement Fund now owns 7,667 shares of the oil and gas producer's stock worth $206,000 after acquiring an additional 3,800 shares during the period. 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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