Genie Energy (NYSE:GNE) Stock Passes Below 200 Day Moving Average - What's Next?

Genie Energy Ltd. (NYSE:GNE - Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.94 and traded as low as $14.40. Genie Energy shares last traded at $14.54, with a volume of 51,953 shares changing hands.

Genie Energy Trading Up 0.6 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56. The stock has a market capitalization of $397.12 million, a price-to-earnings ratio of 104.29 and a beta of 0.07. The business has a fifty day simple moving average of $15.35 and a 200 day simple moving average of $15.94.

Genie Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 12th were given a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.05%. Genie Energy's payout ratio is 214.29%.

Insider Buying and Selling

In other Genie Energy news, CFO Avi Goldin sold 7,300 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $15.42, for a total value of $112,566.00. Following the transaction, the chief financial officer now directly owns 127,699 shares of the company's stock, valued at $1,969,118.58. This trade represents a 5.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GNE. Point72 DIFC Ltd increased its stake in shares of Genie Energy by 11,831.6% in 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 position in Genie Energy in the second quarter valued at about $165,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Genie Energy during the second quarter worth about $169,000. Barclays PLC lifted its holdings in shares of Genie Energy by 234.6% in the third quarter. Barclays PLC now owns 20,617 shares of the oil and gas producer's stock worth $334,000 after acquiring an additional 14,455 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Genie Energy during the 3rd quarter worth approximately $433,000. 49.15% of the stock is owned by institutional investors.

Genie Energy Company Profile

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.