Genie Energy (NYSE:GNE) Stock Crosses Below 200 Day Moving Average - Should You Sell?

Key Points

• Genie Energy shares slipped below their 200-day moving average, trading as low as $13.95 versus a 200-day average of $14.11 before last trading at $14.1570. The move came on volume of 76,292 shares.
• Recent analyst activity has been mixed, but the overall consensus rating remains “Buy” based on MarketBeat data. Recent changes included an upgrade from Freedom Capital and a downgrade from Wall Street Zen.
• The company reported better-than-expected quarterly results, with EPS of $0.11 versus $0.07 expected and revenue of $142.31 million versus $114.23 million estimated. Genie Energy also pays a quarterly dividend of $0.075, yielding about 2.1% annually.

Genie Energy Ltd. (NYSE:GNE - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.11 and traded as low as $13.95. Genie Energy shares last traded at $14.1570, with a volume of 76,292 shares.

Analyst Ratings Changes

Several analysts recently commented on GNE shares. Weiss Ratings upgraded shares of Genie Energy from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 18th. Freedom Capital raised shares of Genie Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. Finally, Wall Street Zen lowered shares of Genie Energy from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy".

Genie Energy Stock Up 0.9%

The company has a market capitalization of $373.74 million, a PE ratio of 28.89 and a beta of 0.19. The company has a current ratio of 2.54, a quick ratio of 2.44 and a debt-to-equity ratio of 0.03. The firm has a 50 day simple moving average of $14.08 and a two-hundred day simple moving average of $14.11.

Genie Energy (NYSE:GNE - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. Genie Energy had a return on equity of 9.72% and a net margin of 3.22%.The business had revenue of $142.31 million during the quarter, compared to analysts' expectations of $114.23 million.

Genie Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Friday, May 22nd were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 22nd. Genie Energy's payout ratio is currently 61.22%.

Institutional Trading of Genie Energy

Several hedge funds have recently made changes to their positions in GNE. Empowered Funds LLC acquired a new position in Genie Energy during the 1st quarter worth approximately $204,000. Quantinno Capital Management LP lifted its holdings in shares of Genie Energy by 92.9% in the 1st quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer's stock valued at $2,174,000 after buying an additional 74,046 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Genie Energy by 5.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer's stock valued at $3,001,000 after buying an additional 10,044 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Genie Energy in the first quarter valued at approximately $365,000. Finally, Virtus Advisers LLC purchased a new stake in shares of Genie Energy in the third quarter valued at approximately $124,000. Institutional investors and hedge funds own 49.15% of the company's stock.

Genie Energy Company Profile

Genie Energy Ltd. NYSE: GNE is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel's Shefela basin and Jordan's oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.

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