Genie Energy (NYSE:GNE) Cut to Buy at StockNews.com

Genie Energy (NYSE:GNE) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

Genie Energy Price Performance

NYSE:GNE opened at $14.85 on Thursday. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $14.47 and its two-hundred day simple moving average is $15.39. The stock has a market cap of $403.97 million, a PE ratio of 106.09 and a beta of 0.02. Genie Energy has a 52 week low of $13.05 and a 52 week high of $17.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNE. R Squared Ltd purchased a new position in shares of Genie Energy during the fourth quarter valued at approximately $37,000. SG Americas Securities LLC bought a new stake in shares of Genie Energy during the fourth quarter valued at approximately $107,000. Wells Fargo & Company MN raised its stake in shares of Genie Energy by 28.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer’s stock valued at $120,000 after acquiring an additional 1,699 shares in the last quarter. PDT Partners LLC bought a new stake in shares of Genie Energy during the fourth quarter valued at approximately $174,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Genie Energy during the fourth quarter valued at approximately $209,000. Hedge funds and other 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.