Genie Energy (NYSE:GNE) Stock Rating Upgraded by Wall Street Zen

Genie Energy (NYSE:GNE) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Genie Energy in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Genie Energy Stock Performance

GNE traded up $0.17 during trading hours on Friday, hitting $14.84. 112,110 shares of the stock were exchanged, compared to its average volume of 139,233. The stock has a market cap of $396.36 million, a price-to-earnings ratio of 15.79 and a beta of 0.05. The stock has a 50-day simple moving average of $15.24 and a 200-day simple moving average of $18.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.99 and a quick ratio of 1.85. Genie Energy has a 12 month low of $13.05 and a 12 month high of $28.47.

Genie Energy (NYSE:GNE) last issued its earnings results on Monday, November 3rd. The oil and gas producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.29). Genie Energy had a return on equity of 6.40% and a net margin of 1.82%.The business had revenue of $138.32 million for the quarter, compared to analyst estimates of $130.79 million.

Institutional Trading of Genie Energy

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Genie Energy by 1.1% during the third quarter. Vanguard Group Inc. now owns 1,208,916 shares of the oil and gas producer’s stock valued at $18,073,000 after purchasing an additional 13,567 shares during the period. State of Wyoming acquired a new stake in Genie Energy in the third quarter worth approximately $279,000. Federated Hermes Inc. boosted its stake in Genie Energy by 168.2% during the 3rd quarter. Federated Hermes Inc. now owns 2,406 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 1,509 shares in the last quarter. Strs Ohio increased its position in shares of Genie Energy by 83.0% during the 3rd quarter. Strs Ohio now owns 38,800 shares of the oil and gas producer’s stock valued at $580,000 after purchasing an additional 17,600 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Genie Energy in the 3rd quarter worth $166,000. 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.