Genie Energy Ltd. (NYSE:GNE) Short Interest Update

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

Insider Activity

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 value of $63,173.25. Following the sale, the director now owns 304,411 shares of the company’s stock, valued at $5,232,825.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Genie Energy news, CFO Avi Goldin sold 2,300 shares of Genie Energy stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $17.19, for a total transaction of $39,537.00. Following the completion of the sale, the chief financial officer now 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 is accessible through the SEC website. Also, Director James A. Courter sold 3,675 shares of the company’s stock in a transaction 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 sale, the director now owns 304,411 shares of the company’s stock, valued at $5,232,825.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GNE. Unison Advisors LLC acquired a new position in shares of Genie Energy during the 3rd quarter worth about $650,000. Point72 DIFC Ltd boosted its position in 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 purchasing an additional 2,248 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Genie Energy in the second quarter valued at approximately $169,000. Algert Global LLC increased its position in shares of Genie Energy by 190.1% during the 2nd quarter. Algert Global LLC now owns 39,798 shares of the oil and gas producer’s stock worth $582,000 after purchasing an additional 26,078 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Genie Energy by 28.6% during the 2nd quarter. Mackenzie Financial Corp now owns 47,949 shares of the oil and gas producer’s stock worth $701,000 after purchasing an additional 10,650 shares in the last quarter. Institutional investors own 49.15% of the company’s stock.

Genie Energy Trading Up 0.1 %

Shares of GNE stock traded up $0.02 during trading hours on Thursday, hitting $16.69. 571 shares of the company were exchanged, compared to its average volume of 123,125. The business has a 50 day moving average of $16.45 and a two-hundred day moving average of $15.81. The company has a market capitalization of $452.82 million, a PE ratio of 33.34 and a beta of 0.08. Genie Energy has a 52 week low of $14.00 and a 52 week high of $30.90.

Genie Energy (NYSE:GNE) last announced its earnings results 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 business had revenue of $90.70 million for the quarter.

Genie Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 14th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.80%. The ex-dividend date was Wednesday, August 14th. Genie Energy’s payout ratio is 60.00%.

Analysts Set New Price Targets

Separately, StockNews.com raised Genie Energy from a “hold” rating to a “buy” rating in a research note 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.