Genie Energy (NYSE:GNE) Stock Price Down 4.8% - Time to Sell?

Genie Energy Ltd. (NYSE:GNE - Get Free Report) shares fell 4.8% on Wednesday . The stock traded as low as $25.51 and last traded at $25.48. 34,740 shares were traded during mid-day trading, a decline of 63% from the average session volume of 92,800 shares. The stock had previously closed at $26.77.

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 report on Wednesday, May 7th.

Genie Energy Trading Up 1.6%

The company's 50 day simple moving average is $21.06 and its 200-day simple moving average is $16.93. The firm has a market cap of $672.22 million, a P/E ratio of 178.86 and a beta of 0.19. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.04.

Genie Energy (NYSE:GNE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share (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 during the quarter.

Genie Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, May 19th. Genie Energy's dividend payout ratio is currently 214.29%.

Insider Activity at Genie Energy

In related news, Director Allan Sass sold 2,920 shares of Genie Energy stock in a transaction dated 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 sale, the director owned 38,690 shares in the company, valued at $685,586.80. This trade represents a 7.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 17.40% of the company's stock.

Hedge Funds Weigh In On Genie Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of 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 valued at $19,804,000 after acquiring an additional 39,749 shares in the last quarter. J. Goldman & Co LP increased its holdings in Genie Energy by 14.8% during the 4th quarter. J. Goldman & Co LP now owns 676,268 shares of the oil and gas producer's stock worth $10,543,000 after purchasing an additional 87,206 shares during the period. Geode Capital Management LLC raised its position in Genie Energy by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 430,370 shares of the oil and gas producer's stock valued at $6,712,000 after purchasing an additional 9,283 shares in the last quarter. Bank of New York Mellon Corp raised its position in Genie Energy by 24.3% during 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 purchasing an additional 32,630 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Genie Energy by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 146,364 shares of the oil and gas producer's stock worth $2,203,000 after buying an additional 19,671 shares during the period. 49.15% of the stock is currently owned by institutional investors.

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.