Genie Energy (NYSE:GNE) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Genie Energy Ltd. (NYSE:GNE - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.86 and traded as high as $26.83. Genie Energy shares last traded at $24.69, with a volume of 279,334 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Genie Energy from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 7th.

Genie Energy Stock Performance

The stock has a market cap of $662.93 million, a price-to-earnings ratio of 176.36 and a beta of 0.19. The company's 50-day simple moving average is $20.86 and its 200-day simple moving average is $16.86. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.04.

Genie Energy (NYSE:GNE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $136.81 million for the quarter. Genie Energy had a return on equity of 10.16% and a net margin of 3.41%.

Genie Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a dividend of $0.075 per share. The ex-dividend date was Monday, May 19th. This represents a $0.30 annualized dividend and a yield of 1.22%. Genie Energy's payout ratio is presently 214.29%.

Insider Activity at Genie Energy

In other 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 transaction of $51,742.40. Following the sale, the director owned 38,690 shares in the company, valued at $685,586.80. The trade was a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Genie Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Genie Energy in the first quarter worth $85,000. Wells Fargo & Company MN grew its stake in Genie Energy by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer's stock valued at $120,000 after acquiring an additional 1,699 shares in the last quarter. Ascent Group LLC acquired a new position in shares of Genie Energy in the 1st quarter valued at about $158,000. PDT Partners LLC purchased a new stake in shares of Genie Energy in the fourth quarter worth approximately $174,000. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of Genie Energy during the fourth quarter worth approximately $209,000. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

About Genie Energy

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.

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