Genie Energy (NYSE:GNE) Shares Cross Above 200 Day Moving Average - Should You Sell?

Genie Energy Ltd. (NYSE:GNE - Get Free Report)'s share price 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.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Genie Energy from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, May 7th.

Genie Energy Stock Up 1.6%

The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $672.32 million, a PE ratio of 178.86 and a beta of 0.19. The business's 50-day moving average price is $21.27 and its 200-day moving average price is $17.04.

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

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.30 annualized dividend and a dividend yield of 1.20%. Genie Energy's dividend payout ratio is 214.29%.

Insider Transactions at Genie Energy

In other Genie Energy news, Director Allan Sass sold 2,920 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $17.72, for a total value of $51,742.40. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 17.40% of the company's stock.

Institutional Investors Weigh In On Genie Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in GNE. Strs Ohio acquired a new position in shares of Genie Energy during the 1st quarter worth $500,000. Jane Street Group LLC boosted its holdings in Genie Energy by 128.9% in the first quarter. Jane Street Group LLC now owns 45,372 shares of the oil and gas producer's stock worth $683,000 after purchasing an additional 25,548 shares in the last quarter. Ascent Group LLC acquired a new position in Genie Energy during the first quarter worth $158,000. Goldman Sachs Group Inc. raised its holdings in Genie Energy by 15.5% during the first quarter. Goldman Sachs Group Inc. now owns 146,364 shares of the oil and gas producer's stock valued at $2,203,000 after buying an additional 19,671 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Genie Energy during the first quarter valued at about $239,000. 49.15% of the stock is owned by hedge funds and other institutional investors.

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.