Genie Energy (NYSE:GNE) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• Genie Energy shares moved above their 200-day moving average, reaching $15.99 and last trading near $15.91, compared with a 200-day average of $14.30.
• Analysts maintain a cautious view: two research analysts rate the stock “Hold” on average, while Freedom Capital downgraded it from “Strong Buy” to “Hold.”
• The company beat quarterly earnings expectations with $0.43 in EPS versus a $0.25 consensus estimate, though revenue of $100.4 million fell short of expectations; it also pays a $0.30 annualized dividend, yielding about 1.9%.

Genie Energy Ltd. (NYSE:GNE - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.30 and traded as high as $15.99. Genie Energy shares last traded at $15.9140, with a volume of 96,850 shares.

Wall Street Analyst Weigh In

GNE has been the subject of several analyst reports. Freedom Capital downgraded shares of Genie Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Genie Energy from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Genie Energy currently has an average rating of "Hold".

Genie Energy Stock Up 0.1%

The company has a quick ratio of 2.75, a current ratio of 2.89 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $418.86 million, a PE ratio of 19.65 and a beta of 0.19. The stock has a 50-day moving average of $14.70 and a 200 day moving average of $14.30.

Genie Energy (NYSE:GNE - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.18. The business had revenue of $100.40 million for the quarter, compared to analysts' expectations of $104.57 million. Genie Energy had a return on equity of 12.80% and a net margin of 5.05%.

Genie Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Friday, August 14th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, August 14th. Genie Energy's payout ratio is presently 37.04%.

Hedge Funds Weigh In On Genie Energy

Several institutional investors have recently added to or reduced their stakes in GNE. ProShare Advisors LLC bought a new stake in Genie Energy in the fourth quarter worth about $160,000. Public Employees Retirement System of Ohio bought a new position in shares of Genie Energy during the 2nd quarter valued at approximately $175,000. Empowered Funds LLC bought a new position in shares of Genie Energy during the 1st quarter valued at approximately $204,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Genie Energy during the 1st quarter worth approximately $365,000. Finally, Quantinno Capital Management LP increased its stake in shares of Genie Energy by 92.9% during the 1st quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer's stock worth $2,174,000 after purchasing an additional 74,046 shares during the last quarter. Institutional investors own 49.15% of the company's stock.

Genie Energy Company Profile

Genie Energy Ltd. is an energy services company that provides electricity and natural gas to residential and small-business customers. Through its retail energy operations, the company offers customers energy supply plans and related services in deregulated markets, where consumers can choose an independent supplier rather than purchasing directly from a regulated utility.

The company also operates businesses focused on renewable energy and other energy-related solutions. Its offerings have included residential and commercial solar products, solar project development and installation services, and energy management or advisory services.

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