Genie Energy (NYSE:GNE) Downgraded by Freedom Capital to Hold

Genie Energy (NYSE:GNE) was downgraded by research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on GNE. Wall Street Zen cut Genie Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 18th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Genie Energy Stock Down 1.0%

Shares of NYSE GNE opened at $14.41 on Monday. The company has a quick ratio of 2.44, a current ratio of 2.54 and a debt-to-equity ratio of 0.03. Genie Energy has a 52 week low of $12.69 and a 52 week high of $16.60. The firm has a 50-day moving average price of $14.20 and a 200 day moving average price of $14.12. The stock has a market capitalization of $380.42 million, a price-to-earnings ratio of 29.41 and a beta of 0.20.

Genie Energy (NYSE:GNE) last issued its earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.18. Genie Energy had a net margin of 4.95% and a return on equity of 13.00%. The company had revenue of $100.40 million for the quarter, compared to analyst estimates of $104.57 million.

Institutional Trading of Genie Energy

A number of hedge funds have recently bought and sold shares of GNE. Empowered Funds LLC purchased a new stake in Genie Energy in the 1st quarter worth approximately $204,000. Quantinno Capital Management LP raised its holdings in Genie Energy by 92.9% in the 1st quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer’s stock valued at $2,174,000 after acquiring an additional 74,046 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Genie Energy by 5.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer’s stock worth $3,001,000 after purchasing an additional 10,044 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Genie Energy during the 1st quarter worth $365,000. Finally, Invesco Ltd. boosted its holdings in shares of Genie Energy by 12.9% during the fourth quarter. Invesco Ltd. now owns 32,693 shares of the oil and gas producer’s stock worth $451,000 after purchasing an additional 3,727 shares during the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

Genie Energy Company Profile

Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.