Genie Energy (NYSE:GNE) Upgraded at Freedom Capital

Genie Energy (NYSE:GNE) was upgraded by stock analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Genie Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Genie Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Genie Energy Stock Up 2.3%

Shares of NYSE GNE opened at $13.35 on Friday. The stock has a market capitalization of $352.45 million, a price-to-earnings ratio of 16.69 and a beta of 0.20. Genie Energy has a 52 week low of $12.69 and a 52 week high of $28.47. The firm has a 50-day moving average price of $14.02 and a 200 day moving average price of $14.21. The company has a quick ratio of 2.29, a current ratio of 2.38 and a debt-to-equity ratio of 0.03.

Genie Energy (NYSE:GNE) last released its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The company had revenue of $142.31 million for the quarter, compared to analysts’ expectations of $123.83 million. Genie Energy had a return on equity of 10.08% and a net margin of 3.18%.

Hedge Funds Weigh In On Genie Energy

Institutional investors have recently modified their holdings of the company. Vise Technologies Inc. acquired a new position in shares of Genie Energy in the fourth quarter valued at approximately $159,000. Virtus Advisers LLC acquired a new position in shares of Genie Energy in the third quarter valued at approximately $124,000. Quarry LP acquired a new position in shares of Genie Energy in the third quarter valued at approximately $35,000. Arrowstreet Capital Limited Partnership grew its holdings in Genie Energy by 5.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer’s stock valued at $3,001,000 after purchasing an additional 10,044 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in Genie Energy in the first quarter valued at approximately $365,000. Institutional investors and hedge funds own 49.15% of the company’s stock.

About Genie Energy

Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.