Genie Energy Ltd. (NYSE:GNE) Sees Significant Decrease in Short Interest

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

Genie Energy Price Performance

NYSE GNE opened at $16.17 on Tuesday. The stock has a market capitalization of $438.71 million, a price-to-earnings ratio of 32.34 and a beta of 0.08. Genie Energy has a one year low of $14.00 and a one year high of $30.90. The business’s fifty day moving average is $16.40 and its 200-day moving average is $15.79.

Genie Energy (NYSE:GNE) last released 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 firm had revenue of $90.70 million during the quarter.

Genie Energy Announces Dividend

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

Analysts Set New Price Targets

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

Insider Transactions at Genie Energy

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd raised its position in shares of Genie Energy by 11,831.6% during the second quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 2,248 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Genie Energy by 41.9% in the 1st quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock worth $161,000 after purchasing an additional 3,144 shares during the period. BOKF NA bought a new stake in Genie Energy during the 2nd quarter valued at $165,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Genie Energy during the 2nd quarter worth $169,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Genie Energy in the 2nd quarter valued at about $179,000. Institutional investors own 49.15% of the company’s stock.

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.