Genie Energy Ltd. (NYSE:GNE) Short Interest Down 11.6% in September

Genie Energy Ltd. (NYSE:GNE) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 278,500 shares, a decline of 11.6% from the September 15th total of 314,900 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average trading volume of 71,100 shares, the short-interest ratio is presently 3.9 days.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of 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 valued at $18,739,000 after buying an additional 12,806 shares during the period. Hillsdale Investment Management Inc. boosted 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 purchasing an additional 16,700 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake 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 purchasing an additional 8,643 shares in the last quarter. AQR Capital Management LLC increased 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 during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Genie Energy by 10.2% during the first 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 in the last quarter. 49.15% of the stock is owned by hedge funds and other institutional investors.

Genie Energy Trading Up 0.1 %

NYSE:GNE traded up $0.02 during trading hours on Thursday, hitting $16.69. 15,572 shares of the stock traded hands, compared to its average volume of 123,199. The firm has a market cap of $452.82 million, a price-to-earnings ratio of 33.34 and a beta of 0.08. The firm has a 50 day moving average price of $16.45 and a 200 day moving average price of $15.81. Genie Energy has a fifty-two week low of $14.00 and a fifty-two week high of $30.90.

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

Genie Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 14th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Wednesday, August 14th. Genie Energy’s dividend payout ratio (DPR) is 60.00%.

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.