Genie Energy (NYSE:GNE) Downgraded to “Buy” Rating by StockNews.com

Genie Energy (NYSE:GNE) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

Genie Energy Stock Performance

GNE opened at $14.83 on Thursday. The stock has a market capitalization of $403.24 million, a price-to-earnings ratio of 105.90 and a beta of 0.02. The company has a fifty day moving average of $14.48 and a 200 day moving average of $15.40. Genie Energy has a fifty-two week low of $13.05 and a fifty-two week high of $17.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56.

Hedge Funds Weigh In On Genie Energy

Several institutional investors have recently bought and sold shares of the business. Legal & General Group Plc lifted its position in Genie Energy by 7.7% during the fourth quarter. Legal & General Group Plc now owns 19,166 shares of the oil and gas producer’s stock valued at $299,000 after purchasing an additional 1,375 shares during the last quarter. American Century Companies Inc. increased its position in shares of Genie Energy by 4.9% during the 4th quarter. American Century Companies Inc. now owns 33,752 shares of the oil and gas producer’s stock valued at $526,000 after purchasing an additional 1,566 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Genie Energy by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 1,699 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Genie Energy by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 41,960 shares of the oil and gas producer’s stock worth $682,000 after buying an additional 1,891 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Genie Energy during the fourth quarter worth $37,000. 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.