Genie Energy (NYSE:GNE) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Genie Energy Ltd. (NYSE:GNE) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Analysts Set New Price Targets

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

Genie Energy Trading Up 0.1 %

The stock has a market cap of $424.59 million, a price-to-earnings ratio of 112.79 and a beta of 0.09. The firm’s 50 day moving average is $16.37 and its two-hundred day moving average is $15.90. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01.

Genie Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.075 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.30 annualized dividend and a yield of 1.90%. Genie Energy’s dividend payout ratio (DPR) is 214.30%.

Insider Buying and Selling

In other Genie Energy news, CFO Avi Goldin sold 2,300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $17.19, for a total value of $39,537.00. Following the sale, the chief financial officer now owns 134,999 shares in the company, valued at approximately $2,320,632.81. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James A. Courter sold 3,675 shares of the firm’s stock in a transaction that occurred 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 owns 304,411 shares in the company, valued at $5,232,825.09. The trade was a 1.19 % decrease in their position. The disclosure for this sale can be found here. 16.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Genie Energy

Several large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Genie Energy by 8.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer’s stock valued at $202,000 after purchasing an additional 1,002 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Genie Energy by 1.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 80,676 shares of the oil and gas producer’s stock valued at $1,311,000 after purchasing an additional 1,046 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Genie Energy by 5.8% during the first quarter. BNP Paribas Financial Markets now owns 23,114 shares of the oil and gas producer’s stock valued at $349,000 after acquiring an additional 1,267 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Genie Energy by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 41,960 shares of the oil and gas producer’s stock valued at $682,000 after acquiring an additional 1,891 shares during the period. Finally, Point72 DIFC Ltd increased its stake in shares of Genie Energy by 11,831.6% during the second quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 2,248 shares during the period. Institutional investors and hedge funds 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.