Price Action To Observe: A Reversal for Genie Energy Ltd Is Not Near. The Stock Reaches 52-Week Low Today

Price Action To Observe: A Reversal for Genie Energy Ltd Is Not Near. The Stock Reaches 52 Week Low Today

The stock of Genie Energy Ltd (NYSE:GNE) hit a new 52-week low and has $4.82 target or 10.00% below today’s $5.36 share price. The 7 months bearish chart indicates high risk for the $131.87 million company. The 1-year low was reported on Oct, 28 by Barchart.com. If the $4.82 price target is reached, the company will be worth $13.19M 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 12,005 shares traded hands. Genie Energy Ltd (NYSE:GNE) has declined 29.37% since March 28, 2016 and is downtrending. It has underperformed by 34.08% 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 2016 Q2. Its up 0.13, from 1 in 2016Q1. The ratio improved, 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.
Grp One Trading Limited Partnership has 3,008 shares for 0% of their US portfolio. Blackrock Fund owns 340,189 shares or 0% of their US portfolio. The North Carolina-based Atria Limited Liability Co has invested 0.01% in Genie Energy Ltd (NYSE:GNE). Peak6 Invests Ltd Partnership holds 0% or 11,977 shares in its portfolio. Dimensional Fund Advsrs L P, a Texas-based fund reported 816,725 shares. Greenwood Investments accumulated 4.27% or 341,474 shares. Argent Tru has 20,164 shares for 0.06% of their US portfolio. Renaissance Techs holds 0% of its portfolio in Genie Energy Ltd (NYSE:GNE) for 332,497 shares. Schwab Charles Inv has 29,711 shares for 0% of their US portfolio. National Bank Of America Corporation De accumulated 2,144 shares or 0% of the stock. Royal National Bank & Trust Of Canada owns 704 shares or 0% of their US portfolio. Citadel Lc owns 15,760 shares or 0% of their US portfolio. Morgan Stanley has invested 0% of its portfolio in Genie Energy Ltd (NYSE:GNE). Jpmorgan Chase & Com has invested 0% of its portfolio in Genie Energy Ltd (NYSE:GNE). Moreover, State Street has 0% invested in Genie Energy Ltd (NYSE:GNE) for 149,992 shares.

Insider Transactions: Since May 2, 2016, the stock had 0 insider buys, and 9 selling transactions for $427,456 net activity. On Thursday, August 25 COURTER JAMES A sold $30,950 worth of the stock or 5,000 shares.

More important 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 published article titled: “Genie Energy Ltd. Reports First Quarter 2016 Results”, Prnewswire.com published: “Genie Energy (GNE) to Report Third Quarter 2016 Results” on October 26, 2016. More interesting news about Genie Energy Ltd (NYSE:GNE) was released by: Marketwired.com and their article: “Genie Energy Ltd. Reports Fourth Quarter and Full Year 2014 Results” with publication date: March 11, 2015.

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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