Genie Energy (NYSE:GNE) Sees Strong Trading Volume

Genie Energy Ltd. (NYSE:GNE) saw unusually-high trading volume on Monday . Approximately 226,666 shares were traded during trading, an increase of 74% from the previous session’s volume of 130,417 shares.The stock last traded at $24.40 and had previously closed at $25.35.

Analyst Ratings Changes

Separately, StockNews.com lowered Genie Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th.

Genie Energy Trading Down 3.7 %

The business’s 50 day moving average price is $18.50 and its two-hundred day moving average price is $15.87. The stock has a market cap of $670.30 million, a P/E ratio of 11.27 and a beta of 0.30.

Genie Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Monday, November 13th will be issued a $0.075 dividend. The ex-dividend date is Friday, November 10th. This represents a $0.30 annualized dividend and a yield of 1.23%. Genie Energy’s dividend payout ratio (DPR) is presently 13.33%.

Insiders Place Their Bets

In related news, CFO Avi Goldin sold 6,500 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $24.06, for a total value of $156,390.00. Following the sale, the chief financial officer now directly owns 141,763 shares of the company’s stock, valued at $3,410,817.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Genie Energy

Several hedge funds have recently bought and sold shares of GNE. Strs Ohio purchased a new stake in shares of Genie Energy in the second quarter worth $31,000. Wintrust Investments LLC bought a new stake in Genie Energy during the 2nd quarter valued at about $379,000. Bailard Inc. purchased a new position in Genie Energy in the second quarter worth about $322,000. Koss Olinger Consulting LLC lifted its stake in shares of Genie Energy by 7.9% in the second quarter. Koss Olinger Consulting LLC now owns 19,849 shares of the oil and gas producer’s stock worth $281,000 after buying an additional 1,453 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Genie Energy during the second quarter valued at approximately $409,000. Institutional investors own 41.58% of the company’s stock.

About Genie Energy

Genie Energy Ltd., through its subsidiaries, supplies electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, Genie Retail Energy 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 advisory and brokerage services; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.