Genie Energy (NYSE:GNE) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Genie Energy Ltd. (NYSE:GNE - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.46 and traded as high as $21.72. Genie Energy shares last traded at $20.38, with a volume of 182,265 shares changing hands.

Wall Street Analyst Weigh In

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

Genie Energy Stock Down 5.4%

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.03 and a quick ratio of 1.92. The firm's 50 day moving average is $22.54 and its two-hundred day moving average is $17.46. The firm has a market capitalization of $547.20 million, a P/E ratio of 145.57 and a beta of 0.19.

Genie Energy (NYSE:GNE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter. The firm 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 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 dividend on an annualized basis and a dividend yield of 1.47%. Genie Energy's dividend payout ratio is 214.29%.

Insider Activity

In other Genie Energy news, Director Allan Sass sold 2,920 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $17.72, for a total value of $51,742.40. Following the sale, the director directly owned 38,690 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. Company insiders own 17.40% of the company's stock.

Institutional Trading of Genie Energy

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in shares of Genie Energy by 24.3% in the 4th quarter. Bank of New York Mellon Corp now owns 166,695 shares of the oil and gas producer's stock valued at $2,599,000 after acquiring an additional 32,630 shares during the period. American Century Companies Inc. grew its position in shares of Genie Energy by 4.9% in the fourth quarter. American Century Companies Inc. now owns 33,752 shares of the oil and gas producer's stock valued at $526,000 after purchasing an additional 1,566 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Genie Energy in the fourth quarter valued at approximately $296,000. Vanguard Group Inc. lifted its stake in 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. Finally, WINTON GROUP Ltd raised its stake in shares of Genie Energy by 207.0% in the fourth quarter. WINTON GROUP Ltd now owns 37,564 shares of the oil and gas producer's stock valued at $586,000 after acquiring an additional 25,329 shares in the last quarter. 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.

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