Genie Energy Ltd. (NYSE:GNE – Get Free Report) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 368,600 shares, a drop of 11.6% from the July 15th total of 417,200 shares. Based on an average daily volume of 114,100 shares, the short-interest ratio is presently 3.2 days. Currently, 2.9% of the shares of the stock are sold short.
Institutional Trading of Genie Energy
Hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd raised its stake in Genie Energy by 11,831.6% during the 2nd quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 2,248 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Genie Energy during the fourth quarter worth $164,000. SG Americas Securities LLC raised its holdings in shares of Genie Energy by 41.9% during the first quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock worth $161,000 after acquiring an additional 3,144 shares during the period. BOKF NA bought a new stake in Genie Energy in the 2nd quarter valued at $165,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Genie Energy in the 2nd quarter worth $169,000. 49.15% of the stock is currently owned by institutional investors and hedge funds.
Genie Energy Trading Up 1.9 %
Shares of NYSE:GNE traded up $0.30 during trading on Monday, hitting $16.36. 42,220 shares of the company’s stock were exchanged, compared to its average volume of 140,075. The firm has a 50-day moving average price of $15.56 and a two-hundred day moving average price of $16.08. Genie Energy has a 1-year low of $14.00 and a 1-year high of $30.90. The firm has a market cap of $443.86 million, a P/E ratio of 32.76 and a beta of 0.15.
Genie Energy Dividend Announcement
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded Genie Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.
View Our Latest Stock Report on GNE
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.
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