Wall Street Zen Upgrades Genie Energy (NYSE:GNE) to “Buy”

Genie Energy (NYSE:GNE) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

GNE has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Genie Energy in a report on Monday, September 14th. Freedom Capital downgraded shares of Genie Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat, the company presently has an average rating of “Hold”.

Genie Energy Price Performance

GNE stock opened at $16.72 on Friday. The stock has a 50-day moving average price of $15.70 and a two-hundred day moving average price of $14.65. Genie Energy has a 12-month low of $12.69 and a 12-month high of $17.11. The company has a current ratio of 2.89, a quick ratio of 2.75 and a debt-to-equity ratio of 0.03. The company has a market cap of $440.18 million, a PE ratio of 20.65 and a beta of 0.16.

Genie Energy (NYSE:GNE) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.25 by $0.18. The company had revenue of $100.40 million during the quarter, compared to analyst estimates of $104.57 million. Genie Energy had a return on equity of 12.80% and a net margin of 5.05%.

Institutional Trading of Genie Energy

A number of institutional investors have recently added to or reduced their stakes in GNE. Kahn Brothers Group Inc. acquired a new position in shares of Genie Energy during the second quarter worth about $2,196,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Genie Energy in the second quarter worth about $175,000. Empowered Funds LLC purchased a new stake in shares of Genie Energy in the first quarter worth about $204,000. Quantinno Capital Management LP boosted its position in shares of Genie Energy by 92.9% in the first quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer’s stock worth $2,174,000 after buying an additional 74,046 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Genie Energy by 5.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer’s stock valued at $3,001,000 after buying an additional 10,044 shares in the last quarter. 49.15% of the stock is owned by hedge funds and other institutional investors.

Genie Energy Company Profile

Genie Energy Ltd. is an energy services company that supplies electricity and natural gas to residential and small-business customers, primarily through retail energy operations in deregulated markets. Its retail businesses market energy plans and related services directly to consumers and businesses, offering alternatives to traditional utility supply arrangements.

The company’s activities also include renewable energy and energy-related services. Through its renewable energy operations, Genie Energy develops and markets solar power solutions, while its energy services businesses provide brokerage, consulting and other support designed to help customers manage their energy needs.

Genie Energy was formed in 2011 as a spin-off from IDT Corporation and is headquartered in Newark, New Jersey.