Genie Energy Ltd (NYSE:GNE) Sees Large Growth in Short Interest

Genie Energy Ltd (NYSE:GNE) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 2,102,000 shares, a growth of 7.5% from the June 30th total of 1,956,200 shares. Based on an average trading volume of 295,200 shares, the days-to-cover ratio is presently 7.1 days. Approximately 16.6% of the shares of the company are short sold.

Shares of GNE stock traded up $0.12 during trading on Friday, reaching $7.15. 200,182 shares of the company’s stock were exchanged, compared to its average volume of 241,301. The company has a quick ratio of 1.83, a current ratio of 1.80 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $204.81 million, a PE ratio of 7.94 and a beta of 1.37. Genie Energy has a twelve month low of $5.08 and a twelve month high of $11.98. The firm’s fifty day moving average price is $10.13 and its 200-day moving average price is $9.20.

Genie Energy (NYSE:GNE) last posted its earnings results on Monday, August 5th. The oil and gas producer reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.38). The business had revenue of $61.01 million for the quarter, compared to analyst estimates of $51.10 million. Genie Energy had a return on equity of 24.53% and a net margin of 6.08%. As a group, analysts anticipate that Genie Energy will post 0.28 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 16th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Thursday, August 15th. Genie Energy’s payout ratio is presently 33.33%.

A number of research firms recently weighed in on GNE. Noble Financial reissued a “hold” rating on shares of Genie Energy in a report on Wednesday, August 7th. Zacks Investment Research lowered Genie Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, August 10th.

In other Genie Energy news, Director James A. Courter bought 56,649 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $7.01 per share, with a total value of $397,109.49. Following the acquisition, the director now owns 313,632 shares of the company’s stock, valued at $2,198,560.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 29.60% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Willingdon Wealth Management acquired a new position in Genie Energy in the 1st quarter valued at $26,000. JPMorgan Chase & Co. acquired a new position in Genie Energy in the 2nd quarter valued at $41,000. D. E. Shaw & Co. Inc. acquired a new position in Genie Energy in the 4th quarter valued at $60,000. Deutsche Bank AG grew its holdings in Genie Energy by 538.5% in the 4th quarter. Deutsche Bank AG now owns 14,059 shares of the oil and gas producer’s stock valued at $84,000 after buying an additional 11,857 shares in the last quarter. Finally, Zebra Capital Management LLC acquired a new position in Genie Energy in the 2nd quarter valued at $111,000. 20.16% of the stock is currently owned by institutional investors and hedge funds.

Genie Energy Company Profile

Genie Energy Ltd., through its subsidiaries, operates as a retail energy provider; and an oil and gas exploration company. The company operates through three segments: Genie Retail Energy; Genie Energy Services; and Genie Oil and Gas, Inc It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States, as well as in the United Kingdom, Japan, and Finland.

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