Genie Energy (NYSE:GNE) Shares Down 3.9% - Here's Why

Shares of Genie Energy Ltd. (NYSE:GNE - Get Free Report) fell 3.9% on Thursday . The stock traded as low as $27.37 and last traded at $26.77. 65,500 shares traded hands during trading, a decline of 35% from the average session volume of 100,004 shares. The stock had previously closed at $27.87.

Wall Street Analysts Forecast Growth

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 Down 3.4%

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 business's fifty day simple moving average is $19.71 and its two-hundred day simple moving average is $16.45. The company has a market cap of $722.80 million, a PE ratio of 192.71 and a beta of 0.12.

Genie Energy (NYSE:GNE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given 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 1.11%. Genie Energy's dividend payout ratio (DPR) is 214.29%.

Insider Buying and Selling

In other news, Director Allan Sass sold 2,920 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 38,690 shares in the company, valued at $685,586.80. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 17.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Genie Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. purchased a new position in shares of Genie Energy in the fourth quarter worth about $238,000. Bank of America Corp DE raised its holdings in Genie Energy by 77.0% in the 4th quarter. Bank of America Corp DE now owns 29,880 shares of the oil and gas producer's stock valued at $466,000 after acquiring an additional 13,001 shares during the last quarter. Two Sigma Investments LP lifted its stake in Genie Energy by 39.7% in the 4th quarter. Two Sigma Investments LP now owns 59,103 shares of the oil and gas producer's stock worth $921,000 after purchasing an additional 16,788 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Genie Energy during the 4th quarter worth approximately $588,000. Finally, Martingale Asset Management L P boosted its holdings in shares of Genie Energy by 113.1% during the 4th quarter. Martingale Asset Management L P now owns 78,414 shares of the oil and gas producer's stock worth $1,222,000 after purchasing an additional 41,623 shares during the last quarter. 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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