Genie Energy Ltd. (NYSE:GNE) Short Interest Update

Genie Energy Ltd. (NYSE:GNE) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 278,500 shares, a decrease of 11.6% from the September 15th total of 314,900 shares. Based on an average daily volume of 71,100 shares, the days-to-cover ratio is currently 3.9 days. Approximately 2.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Genie Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

Genie Energy Stock Up 1.1 %

Shares of NYSE:GNE opened at $16.17 on Tuesday. The company has a 50-day moving average price of $16.40 and a 200 day moving average price of $15.79. The company has a market cap of $438.71 million, a P/E ratio of 32.34 and a beta of 0.08. Genie Energy has a 52 week low of $14.00 and a 52 week high of $30.90.

Genie Energy (NYSE:GNE) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.37 earnings per share for the quarter. Genie Energy had a net margin of 1.75% and a return on equity of 23.30%. The business had revenue of $90.70 million during the quarter.

Genie Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 14th were given a $0.075 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.86%. Genie Energy’s dividend payout ratio is presently 60.00%.

Insider Buying and Selling at Genie Energy

In other news, Director James A. Courter sold 3,675 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.19, for a total transaction of $63,173.25. Following the sale, the director now directly owns 304,411 shares of the company’s stock, valued at $5,232,825.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Genie Energy news, CFO Avi Goldin sold 2,300 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $17.19, for a total transaction of $39,537.00. Following the sale, the chief financial officer now directly owns 134,999 shares in the company, valued at $2,320,632.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James A. Courter sold 3,675 shares of the stock in a transaction that occurred 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 sale, the director now owns 304,411 shares in the company, valued at approximately $5,232,825.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.50% of the stock is owned by corporate insiders.

Institutional Trading of Genie Energy

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in Genie Energy by 41.9% during the 1st quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock valued at $161,000 after acquiring an additional 3,144 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Genie Energy by 28.6% during the 2nd quarter. Mackenzie Financial Corp now owns 47,949 shares of the oil and gas producer’s stock valued at $701,000 after purchasing an additional 10,650 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Genie Energy in the 1st quarter worth approximately $444,000. Janney Montgomery Scott LLC lifted its position in shares of Genie Energy by 10.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 65,054 shares of the oil and gas producer’s stock valued at $981,000 after acquiring an additional 6,001 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Genie Energy in the 2nd quarter valued at $537,000. 49.15% of the stock is 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.