Genie Energy (NYSE:GNE) Stock Rating Upgraded by StockNews.com

Genie Energy (NYSE:GNE) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Genie Energy Trading Up 2.9 %

GNE stock opened at $16.70 on Wednesday. Genie Energy has a 12-month low of $13.07 and a 12-month high of $30.90. The stock has a market capitalization of $453.07 million, a PE ratio of 33.38 and a beta of 0.15. The stock’s 50 day simple moving average is $15.26 and its 200 day simple moving average is $16.71.

Genie Energy (NYSE:GNE) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas producer reported $0.33 earnings per share for the quarter. Genie Energy had a net margin of 2.99% and a return on equity of 24.06%. The business had revenue of $119.69 million for the quarter.

Institutional Investors Weigh In On Genie Energy

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in Genie Energy by 147.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,717 shares of the oil and gas producer’s stock worth $76,000 after acquiring an additional 1,620 shares during the period. SG Americas Securities LLC grew its stake in Genie Energy by 41.9% in the 1st quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock valued at $161,000 after acquiring an additional 3,144 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Genie Energy in the 4th quarter valued at about $164,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Genie Energy during the second quarter worth approximately $179,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Genie Energy by 8.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer’s stock worth $202,000 after acquiring an additional 1,002 shares during the last quarter. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

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.