Genie Energy (NYSE:GNE) Trading Down 4.3% - Here's Why

Genie Energy Ltd. (NYSE:GNE - Get Free Report) shares traded down 4.3% on Monday . The company traded as low as $21.90 and last traded at $21.93. 20,386 shares were traded during trading, a decline of 75% from the average session volume of 81,918 shares. The stock had previously closed at $22.91.

Analyst Ratings Changes

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

Genie Energy Stock Performance

The business's 50-day moving average price is $17.18 and its 200-day moving average price is $15.60. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock has a market cap of $610.80 million, a PE ratio of 162.53 and a beta of 0.12.

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 for the quarter. The company had revenue of $136.81 million for the quarter. Genie Energy had a net margin of 0.80% and a return on equity of 21.48%.

Genie Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Monday, May 19th. Genie Energy's dividend payout ratio (DPR) is currently 214.29%.

Insider Activity

In related news, Director Allan Sass sold 2,920 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $17.72, for a total value of $51,742.40. Following the completion of the transaction, the director now directly owns 38,690 shares in the company, valued at $685,586.80. The trade was a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 17.40% of the company's stock.

Hedge Funds Weigh In On Genie Energy

Several large investors have recently made changes to their positions in GNE. Legal & General Group Plc raised its position in Genie Energy by 7.7% during the fourth quarter. Legal & General Group Plc now owns 19,166 shares of the oil and gas producer's stock worth $299,000 after acquiring an additional 1,375 shares during the period. American Century Companies Inc. increased its position in Genie Energy by 4.9% during the fourth quarter. American Century Companies Inc. now owns 33,752 shares of the oil and gas producer's stock worth $526,000 after purchasing an additional 1,566 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Genie Energy by 28.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer's stock worth $120,000 after buying an additional 1,699 shares during the period. GSA Capital Partners LLP boosted its stake in Genie Energy by 3.4% during the first quarter. GSA Capital Partners LLP now owns 59,596 shares of the oil and gas producer's stock worth $897,000 after buying an additional 1,948 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Genie Energy by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 41,746 shares of the oil and gas producer's stock worth $628,000 after buying an additional 2,014 shares during the period. 49.15% of the stock is currently owned by institutional investors and hedge funds.

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.