Genie Energy Ltd. (NYSE:GNE) CFO Avi Goldin Sells 2,300 Shares of Stock

Genie Energy Ltd. (NYSE:GNE) CFO Avi Goldin sold 2,300 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,320,632.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Genie Energy Stock Performance

Shares of GNE stock opened at $17.57 on Friday. Genie Energy Ltd. has a 52 week low of $14.00 and a 52 week high of $30.90. The firm’s 50-day simple moving average is $16.38 and its two-hundred day simple moving average is $15.87. The firm has a market cap of $472.46 million, a price-to-earnings ratio of 35.14 and a beta of 0.09.

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

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 14th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.71%. The ex-dividend date was Wednesday, August 14th. Genie Energy’s dividend payout ratio (DPR) is currently 60.00%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Genie Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank purchased a new position in shares of Genie Energy in the fourth quarter valued at $1,077,000. Janney Montgomery Scott LLC lifted its holdings in shares of Genie Energy by 17.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 59,053 shares of the oil and gas producer’s stock worth $1,661,000 after buying an additional 8,882 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Genie Energy in the fourth quarter valued at approximately $357,000. Allspring Global Investments Holdings LLC boosted its position in shares of Genie Energy by 34.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 70,987 shares of the oil and gas producer’s stock valued at $1,070,000 after acquiring an additional 18,298 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Genie Energy during the first quarter valued at approximately $444,000. Institutional investors own 49.15% of the company’s stock.

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.