Genie Energy (NYSE:GNE) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Genie Energy Ltd. (NYSE:GNE) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.89 and traded as high as $15.89. Genie Energy shares last traded at $15.79, with a volume of 49,263 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Genie Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Genie Energy Stock Up 0.1 %

The firm has a market cap of $424.64 million, a price-to-earnings ratio of 112.79 and a beta of 0.09. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of $16.37 and a 200-day moving average price of $15.89.

Genie Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 12th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, November 12th. Genie Energy’s payout ratio is 214.29%.

Insider Activity

In other news, Director James A. Courter sold 3,675 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.19, for a total transaction of $63,173.25. Following the completion of the sale, the director now directly owns 304,411 shares of the company’s stock, valued at $5,232,825.09. The trade was a 1.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Avi Goldin sold 2,300 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $17.19, for a total value of $39,537.00. Following the completion of the transaction, the chief financial officer now directly owns 134,999 shares in the company, valued at $2,320,632.81. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GNE. Vanguard Group Inc. increased its position in shares of Genie Energy by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,242,612 shares of the oil and gas producer’s stock worth $18,739,000 after acquiring an additional 12,806 shares in the last quarter. State Street Corp raised its position in Genie Energy by 2.4% in the third quarter. State Street Corp now owns 520,358 shares of the oil and gas producer’s stock valued at $8,456,000 after purchasing an additional 11,981 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of Genie Energy by 8.6% during the first quarter. Hillsdale Investment Management Inc. now owns 210,641 shares of the oil and gas producer’s stock worth $3,176,000 after purchasing an additional 16,700 shares in the last quarter. Americana Partners LLC boosted its position in shares of Genie Energy by 313.8% in the third quarter. Americana Partners LLC now owns 115,545 shares of the oil and gas producer’s stock worth $1,878,000 after buying an additional 87,625 shares during the period. Finally, Cerity Partners LLC grew its stake in shares of Genie Energy by 118.5% in the third quarter. Cerity Partners LLC now owns 94,324 shares of the oil and gas producer’s stock valued at $1,533,000 after buying an additional 51,160 shares in the last quarter. Hedge funds and other institutional investors own 49.15% of the company’s stock.

About Genie Energy

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.