Genie Energy (NYSE:GNE) Stock Rating Lowered by StockNews.com

Genie Energy (NYSE:GNE – Get Rating) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Genie Energy Trading Up 6.2 %

Shares of Genie Energy stock opened at $10.66 on Wednesday. The company has a 50-day moving average of $11.34 and a two-hundred day moving average of $10.30. The stock has a market cap of $275.99 million, a PE ratio of 3.25 and a beta of 0.38. Genie Energy has a 12-month low of $6.10 and a 12-month high of $13.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNE. Dorsey Wright & Associates acquired a new stake in shares of Genie Energy during the 4th quarter worth $27,000. Captrust Financial Advisors raised its position in Genie Energy by 168.7% in the second quarter. Captrust Financial Advisors now owns 3,348 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 2,102 shares during the period. UBS Group AG boosted its position in shares of Genie Energy by 505.6% in the third quarter. UBS Group AG now owns 6,056 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 5,056 shares during the period. Denali Advisors LLC boosted its holdings in Genie Energy by 200.0% in the 3rd quarter. Denali Advisors LLC now owns 7,500 shares of the oil and gas producer’s stock worth $70,000 after acquiring an additional 5,000 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Genie Energy in the second quarter valued at $96,000. 24.38% of the stock is currently owned by hedge funds and other institutional investors.

Genie Energy Company Profile

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Genie Energy Ltd. engages in the provision of energy services. It operates through the following segments: Genie Retail Energy (GRE), Genie Energy Services (GES), GRE International and Genie Oil and Gas, Inc (GOGAS). The GRE segment owns and operates retail energy providers which resell electricity and natural gas to residential and business customers.