Genie Energy (NYSE:GNE) Raised to Buy at StockNews.com

Genie Energy (NYSE:GNE) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Genie Energy Stock Performance

NYSE:GNE traded up $0.10 on Thursday, reaching $14.43. The company’s stock had a trading volume of 111,105 shares, compared to its average volume of 149,374. Genie Energy has a 1-year low of $12.95 and a 1-year high of $30.90. The firm has a market cap of $391.49 million, a PE ratio of 28.86 and a beta of 0.20. The business’s 50-day moving average price is $15.16 and its two-hundred day moving average price is $18.45.

Genie Energy (NYSE:GNE) last posted its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported $0.33 earnings per share for the quarter. The company had revenue of $119.69 million during the quarter. Genie Energy had a return on equity of 24.06% and a net margin of 2.99%.

Institutional Trading of Genie Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Significant Wealth Partners LLC bought a new stake in Genie Energy during the fourth quarter worth about $4,812,000. Federated Hermes Inc. raised its holdings in Genie Energy by 63,668.2% during the fourth quarter. Federated Hermes Inc. now owns 126,261 shares of the oil and gas producer’s stock worth $3,552,000 after acquiring an additional 126,063 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Genie Energy during the fourth quarter worth about $357,000. Janney Montgomery Scott LLC raised its stake in Genie Energy by 17.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 59,053 shares of the oil and gas producer’s stock valued at $1,661,000 after buying an additional 8,882 shares during the period. Finally, Swiss National Bank bought a new stake in Genie Energy in the fourth quarter valued at approximately $1,077,000. Institutional investors own 49.15% of the company’s stock.

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.