Genie Energy (NYSE:GNE) Shares Down 3.6% - Time to Sell?

Genie Energy Ltd. (NYSE:GNE - Get Free Report)'s stock price traded down 3.6% during mid-day trading on Thursday . The stock traded as low as $20.87 and last traded at $20.78. 26,844 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 98,231 shares. The stock had previously closed at $21.55.

Wall Street Analysts Forecast Growth

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

Genie Energy Price Performance

The company has a current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $547.12 million, a P/E ratio of 145.57 and a beta of 0.19. The company has a 50 day moving average price of $22.46 and a 200 day moving average price of $17.43.

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

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 paid 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 yield of 1.47%. Genie Energy's dividend payout ratio (DPR) is presently 214.29%.

Insider Transactions at Genie Energy

In related news, Director Allan Sass sold 2,920 shares of the company'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 completion of the transaction, the director directly owned 38,690 shares in the company, valued at $685,586.80. This represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Genie Energy

Hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new stake in Genie Energy in the 1st quarter valued at $85,000. Wells Fargo & Company MN raised its holdings in shares of Genie Energy by 28.2% in the 4th quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer's stock worth $120,000 after acquiring an additional 1,699 shares during the last quarter. Ascent Group LLC acquired a new stake in shares of Genie Energy in the 1st quarter worth 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 bought a new position in shares of Genie Energy in the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 49.15% of the company's stock.

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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