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

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

Genie Energy Trading Up 3.8 %

Shares of GNE opened at $16.04 on Wednesday. Genie Energy has a 12 month low of $12.95 and a 12 month high of $30.90. The firm’s 50 day moving average is $15.04 and its 200-day moving average is $17.55. The stock has a market capitalization of $435.17 million, a PE ratio of 32.08 and a beta of 0.15.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GNE. Vanguard Group Inc. increased its stake in Genie Energy by 1.0% in the third quarter. Vanguard Group Inc. now owns 1,190,112 shares of the oil and gas producer’s stock valued at $17,530,000 after acquiring an additional 11,434 shares during the last quarter. SG Americas Securities LLC bought a new position in Genie Energy in the fourth quarter valued at approximately $211,000. Allspring Global Investments Holdings LLC increased its stake in Genie Energy by 20.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 52,689 shares of the oil and gas producer’s stock valued at $1,482,000 after acquiring an additional 8,833 shares during the last quarter. Granite Bay Wealth Management LLC increased its stake in Genie Energy by 205.8% in the fourth quarter. Granite Bay Wealth Management LLC now owns 39,375 shares of the oil and gas producer’s stock valued at $1,108,000 after acquiring an additional 26,500 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in Genie Energy in the fourth quarter valued at approximately $366,000. 49.15% of the stock is owned by 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.