Genie Energy (NYSE:GNE) Shares Pass Above 200-Day Moving Average - Here's Why

Genie Energy Ltd. (NYSE:GNE - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.89 and traded as high as $15.89. Genie Energy shares last traded at $15.79, with a volume of 49,263 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Genie Energy from a "hold" rating to a "buy" rating in a research report on Thursday, August 1st.

Genie Energy Stock Performance

The company has a fifty day moving average price of $16.37 and a two-hundred day moving average price of $15.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47. The company has a market capitalization of $424.64 million, a P/E ratio of 112.79 and a beta of 0.09.

Genie Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 12th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.90%. Genie Energy's payout ratio is presently 214.29%.

Insider Buying and Selling at Genie Energy

In other Genie Energy news, CFO Avi Goldin sold 2,300 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $17.19, for a total transaction of $39,537.00. Following the sale, the chief financial officer now owns 134,999 shares in the company, valued at $2,320,632.81. This represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James A. Courter sold 3,675 shares of Genie Energy stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.19, for a total value of $63,173.25. Following the transaction, the director now directly owns 304,411 shares of the company's stock, valued at $5,232,825.09. The trade was a 1.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.50% of the company's stock.

Institutional Trading of Genie Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Americana Partners LLC grew its holdings in shares of Genie Energy by 313.8% during the third quarter. Americana Partners LLC now owns 115,545 shares of the oil and gas producer's stock worth $1,878,000 after purchasing an additional 87,625 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Genie Energy by 41.9% in the first quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer's stock worth $161,000 after purchasing an additional 3,144 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Genie Energy by 269.5% in the third quarter. GSA Capital Partners LLP now owns 61,871 shares of the oil and gas producer's stock worth $1,005,000 after buying an additional 45,125 shares during the period. Mackenzie Financial Corp increased its position in shares of Genie Energy by 28.6% in the second quarter. Mackenzie Financial Corp now owns 47,949 shares of the oil and gas producer's stock valued at $701,000 after acquiring an additional 10,650 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Genie Energy during the second quarter valued at about $537,000. 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.