Genie Energy Ltd. (NYSE:GNE - Get Free Report) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 241,000 shares, a drop of 5.5% from the October 31st total of 254,900 shares. Based on an average trading volume of 60,100 shares, the short-interest ratio is currently 4.0 days. Approximately 1.9% of the shares of the stock are short sold.
Insider Buying and Selling at Genie Energy
In other Genie Energy news, CFO Avi Goldin sold 2,300 shares of the business's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $17.19, for a total value of $39,537.00. Following the completion of the sale, the chief financial officer now owns 134,999 shares in the company, valued at approximately $2,320,632.81. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James A. Courter sold 3,675 shares of Genie Energy stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.19, for a total transaction of $63,173.25. Following the completion of the transaction, the director now directly owns 304,411 shares in the company, valued at approximately $5,232,825.09. The trade was a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,275 shares of company stock worth $215,276 over the last ninety days. Insiders own 16.50% of the company's stock.
Institutional Investors Weigh In On Genie Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of GNE. Point72 DIFC Ltd boosted its stake in Genie Energy by 11,831.6% during the 2nd quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 2,248 shares during the last quarter. BOKF NA bought a new stake in Genie Energy in the 2nd quarter worth about $165,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Genie Energy in the 2nd quarter worth about $169,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Genie Energy during the 2nd quarter valued at about $179,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Genie Energy by 8.1% during the 1st 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 acquiring an additional 1,002 shares during the last quarter. Hedge funds and other institutional investors own 49.15% of the company's stock.
Genie Energy Stock Down 2.8 %
GNE traded down $0.43 on Tuesday, hitting $14.93. The company had a trading volume of 50,910 shares, compared to its average volume of 114,235. Genie Energy has a 52-week low of $14.00 and a 52-week high of $30.90. The firm has a market capitalization of $406.10 million, a P/E ratio of 106.65 and a beta of 0.07. The stock has a fifty day simple moving average of $16.09 and a 200-day simple moving average of $15.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47.
Genie Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 12th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, November 12th. Genie Energy's dividend payout ratio is presently 214.30%.
Genie Energy Company Profile
(
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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.
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