Short Interest in Genie Energy Ltd. (NYSE:GNE) Declines By 6.9%

Genie Energy Ltd. (NYSE:GNE) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 314,900 shares, a decline of 6.9% from the August 31st total of 338,100 shares. Based on an average trading volume of 90,200 shares, the short-interest ratio is presently 3.5 days. Currently, 2.5% of the company’s shares are short sold.

Genie Energy Stock Performance

GNE traded down $0.27 during trading on Tuesday, hitting $15.98. 85,205 shares of the stock were exchanged, compared to its average volume of 127,841. The firm has a 50 day simple moving average of $16.47 and a 200 day simple moving average of $15.76. The firm has a market cap of $433.55 million, a price-to-earnings ratio of 32.12 and a beta of 0.09. Genie Energy has a 1 year low of $14.00 and a 1 year 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. The company had revenue of $90.70 million for the quarter. Genie Energy had a return on equity of 23.30% and a net margin of 1.75%.

Genie Energy Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 1.88%. Genie Energy’s dividend payout ratio is currently 60.00%.

Insider Buying and Selling at Genie Energy

In related news, Director James A. Courter sold 3,675 shares of the company’s 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 transaction, the director now directly owns 304,411 shares in the company, valued at approximately $5,232,825.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director James A. Courter sold 3,675 shares of the business’s 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 owns 304,411 shares in the company, valued at approximately $5,232,825.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Avi Goldin sold 2,300 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $17.19, for a total value of $39,537.00. Following the completion of the transaction, the chief financial officer now directly owns 134,999 shares in the company, valued at approximately $2,320,632.81. The disclosure for this sale can be found here. Company insiders own 16.50% of the company’s stock.

Hedge Funds Weigh In On Genie Energy

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Genie Energy by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,242,612 shares of the oil and gas producer’s stock worth $18,739,000 after purchasing an additional 12,806 shares during the period. Hillsdale Investment Management Inc. raised its position in Genie Energy by 8.6% during the first quarter. Hillsdale Investment Management Inc. now owns 210,641 shares of the oil and gas producer’s stock valued at $3,176,000 after acquiring an additional 16,700 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Genie Energy by 12.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 79,630 shares of the oil and gas producer’s stock valued at $1,164,000 after acquiring an additional 8,643 shares during the period. AQR Capital Management LLC boosted its position in Genie Energy by 102.5% in the 2nd quarter. AQR Capital Management LLC now owns 76,309 shares of the oil and gas producer’s stock worth $1,116,000 after purchasing an additional 38,632 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake 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 worth $981,000 after purchasing an additional 6,001 shares during the period. 49.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.