The stock of Genie Energy Ltd (NYSE:GNE) hit a new 52-week low and has $5.00 target or 13.00% below today’s $5.75 share price. The 5 months bearish chart indicates high risk for the $144.20M company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $5.00 price target is reached, the company will be worth $18.75M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 20,505 shares traded hands. Genie Energy Ltd (NYSE:GNE) has declined 26.83% since March 10, 2016 and is downtrending. It has underperformed by 34.35% the S&P500.
Analysts await Genie Energy Ltd (NYSE:GNE) to report earnings on November, 2.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment increased to 1.13 in Q2 2016. Its up 0.13, from 1 in 2016Q1. The ratio is positive, as 5 funds sold all Genie Energy Ltd shares owned while 19 reduced positions. 8 funds bought stakes while 19 increased positions. They now own 4.18 million shares or 4.10% less from 4.36 million shares in 2016Q1.
Walleye Trading Limited Com last reported 4,900 shares in the company. Moreover, Bridgeway Mgmt has 0.01% invested in Genie Energy Ltd (NYSE:GNE) for 48,667 shares. Macroview Mgmt Llc has invested 0% of its portfolio in Genie Energy Ltd (NYSE:GNE). Tower Research Capital Limited Liability (Trc) owns 2,623 shares or 0% of their US portfolio. Price T Rowe Associate Md reported 16,842 shares or 0% of all its holdings. Millennium Mgmt Limited accumulated 0% or 21,916 shares. Peak6 Lp owns 11,977 shares or 0% of their US portfolio. Moreover, Guggenheim has 0% invested in Genie Energy Ltd (NYSE:GNE) for 10,463 shares. Blackrock Advsrs Limited Liability Com accumulated 0% or 6,975 shares. Art Advsr Ltd Co has 13,519 shares for 0% of their US portfolio. Nationwide Fund holds 29,025 shares or 0% of its portfolio. Morgan Stanley accumulated 17,358 shares or 0% of the stock. The New York-based Springbok Capital Ltd Co has invested 0.01% in Genie Energy Ltd (NYSE:GNE). Blackrock Inv Mngmt Limited accumulated 51,464 shares or 0% of the stock. Rhumbline Advisers last reported 0% of its portfolio in the stock.
Insider Transactions: Since April 15, 2016, the stock had 0 buys, and 8 sales for $399,706 net activity. COURTER JAMES A also sold $29,200 worth of Genie Energy Ltd (NYSE:GNE) shares. Another trade for 263,713 shares valued at $1.67M was sold by JONAS HOWARD S.
More notable recent Genie Energy Ltd (NYSE:GNE) news were published by: Quotes.Wsj.com which released: “DOW JONES, A NEWS CORP COMPANY” on April 06, 2011, also Marketwired.com with their article: “Genie Energy Ltd. Reports Third Quarter 2015 Results” published on November 04, 2015, Benzinga.com published: “Mid-Afternoon Market Update: Crude Oil Down Over 1%; VOXX Shares Spike Higher” on October 12, 2016. More interesting news about Genie Energy Ltd (NYSE:GNE) were released by: Marketwired.com and their article: “Genie Energy Ltd. Reports First Quarter 2016 Results” published on May 04, 2016 as well as Seekingalpha.com‘s news article titled: “Genie Energy: As Successful As Its Parent, IDT?” with publication date: July 22, 2016.
GNE Company Profile
Genie Energy Ltd. (Genie), incorporated on January 10, 2011, owns interest in its subsidiary, Genie Energy International Corporation (GEIC), which owns Genie Retail Energy (GRE) and Genie Oil and Gas, Inc. (GOGAS). The Firm consists of two businesses: GRE and GOGAS. The Firm operates through three divisions: Genie Retail Energy, Afek Oil and Gas, Ltd. (Afek), and Genie Oil and Gas. The GRE segment operates retail energy providers (REPs), including IDT Energy, Inc. (IDT Energy) and Residents Energy, Inc. (Residents Energy), and energy brokerage and marketing services. The Company’s REP businesses resell electricity and natural gas to residential and small business clients in the Eastern United States. The GOGAS segment is an gas and oil exploration company.
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