Genie Energy (NYSE:GNE - Get Free Report) was upgraded by StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued on Wednesday.
Genie Energy Price Performance
GNE stock traded up $0.43 during trading hours on Wednesday, hitting $14.28. 84,128 shares of the stock traded hands, compared to its average volume of 90,281. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $14.59 and a 200 day simple moving average of $15.49. Genie Energy has a one year low of $13.05 and a one year high of $17.93. The company has a market cap of $388.28 million, a P/E ratio of 101.97 and a beta of 0.02.
Institutional Investors Weigh In On Genie Energy
Large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Genie Energy by 112.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,057 shares of the oil and gas producer's stock valued at $734,000 after purchasing an additional 24,937 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in Genie Energy during the fourth quarter valued at about $588,000. Two Sigma Investments LP boosted its holdings in shares of Genie Energy by 39.7% in the fourth quarter. Two Sigma Investments LP now owns 59,103 shares of the oil and gas producer's stock worth $921,000 after buying an additional 16,788 shares during the period. Man Group plc increased its position in shares of Genie Energy by 46.8% in the fourth quarter. Man Group plc now owns 35,636 shares of the oil and gas producer's stock worth $556,000 after acquiring an additional 11,368 shares in the last quarter. Finally, J. Goldman & Co LP lifted its position in shares of Genie Energy by 14.8% in the 4th quarter. J. Goldman & Co LP now owns 676,268 shares of the oil and gas producer's stock valued at $10,543,000 after acquiring an additional 87,206 shares in the last quarter. 49.15% of the stock is owned by institutional investors.
About Genie Energy
(
Get Free Report)
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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