Zacks Investment Research upgraded shares of Genie Energy (NYSE:GNE) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. Zacks Investment Research currently has $13.00 price objective on the oil and gas producer’s stock.

According to Zacks, “Genie Energy Ltd., is engaged in supplying electricity and natural gas in New York, Pennsylvania, and New Jersey. The Company has oil shale projects in Colorado and Israel and also provides alternative fuels for transportation purposes. Genie Energy Ltd. is based in Newark, New Jersey. “

A number of other research analysts have also issued reports on the stock. Noble Financial initiated coverage on shares of Genie Energy in a report on Wednesday, March 20th. They issued a hold rating for the company. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st.

Shares of NYSE GNE opened at $11.09 on Thursday. The firm has a 50 day simple moving average of $10.25. The company has a market cap of $300.44 million, a price-to-earnings ratio of 12.32 and a beta of 1.41. Genie Energy has a 1 year low of $5.07 and a 1 year high of $11.98. The company has a current ratio of 2.02, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Genie Energy (NYSE:GNE) last issued its quarterly earnings data on Monday, May 6th. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.16. The business had revenue of $86.62 million during the quarter, compared to analyst estimates of $72.40 million. Genie Energy had a net margin of 8.18% and a return on equity of 37.04%. Analysts predict that Genie Energy will post 0.8 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Willingdon Wealth Management bought a new position in Genie Energy during the 1st quarter worth approximately $26,000. D. E. Shaw & Co. Inc. bought a new position in Genie Energy during the 4th quarter worth approximately $60,000. Deutsche Bank AG raised its holdings in Genie Energy by 538.5% during the 4th quarter. Deutsche Bank AG now owns 14,059 shares of the oil and gas producer’s stock worth $84,000 after purchasing an additional 11,857 shares during the last quarter. Bank of Montreal Can raised its holdings in Genie Energy by 4,986.3% during the 1st quarter. Bank of Montreal Can now owns 20,040 shares of the oil and gas producer’s stock worth $171,000 after purchasing an additional 19,646 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Genie Energy by 20.8% during the 4th quarter. First Trust Advisors LP now owns 33,771 shares of the oil and gas producer’s stock worth $204,000 after purchasing an additional 5,811 shares during the last quarter. Hedge funds and other institutional investors own 19.69% of the company’s stock.

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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