Stock Mover of The Day: Will Genie Energy Ltd Short Squeeze Soon?

Stock Mover of The Day: Will Genie Energy Ltd Short Squeeze Soon?

The stock of Genie Energy Ltd (NYSE:GNE) hit a new 52-week low and has $4.55 target or 13.00% below today’s $5.23 share price. The 6 months bearish chart indicates high risk for the $129.65 million company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $4.55 price target is reached, the company will be worth $16.85M 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 36,159 shares traded hands or 14.86% up from the average. Genie Energy Ltd (NYSE:GNE) has declined 31.14% since March 31, 2016 and is downtrending. It has underperformed by 33.67% the S&P500.

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 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.
The Massachusetts-based Rhumbline Advisers has invested 0% in Genie Energy Ltd (NYSE:GNE). Blackrock Fund last reported 340,189 shares in the company. Vanguard Gru holds 0% of its portfolio in Genie Energy Ltd (NYSE:GNE) for 590,860 shares. Tfs Capital Ltd Limited Liability Company holds 41,279 shares or 0.05% of its portfolio. Manufacturers Life Insurance Company The owns 1,181 shares or 0% of their US portfolio. Susquehanna Limited Liability Partnership has 20,506 shares for 0% of their US portfolio. The New York-based Millennium Mngmt Lc has invested 0% in Genie Energy Ltd (NYSE:GNE). Nationwide Fund Advsrs has 29,025 shares for 0% of their US portfolio. Salzhauer Michael accumulated 27,426 shares or 0.15% of the stock. First Manhattan Co reported 66 shares or 0% of all its holdings. Macroview Mngmt Lc has invested 0% of its portfolio in Genie Energy Ltd (NYSE:GNE). Greenwood Invests last reported 341,474 shares in the company. Spot Trading Limited Liability Corp holds 0% of its portfolio in Genie Energy Ltd (NYSE:GNE) for 23,217 shares. Cornerstone Capital Mgmt Holdings Ltd Co has invested 0% of its portfolio in Genie Energy Ltd (NYSE:GNE). Goldman Sachs Grp Incorporated last reported 0% of its portfolio in the stock.

Insider Transactions: Since July 11, 2016, the stock had 0 insider buys, and 8 insider sales for $248,833 net activity. Another trade for 5,000 shares valued at $31,050 was made by COURTER JAMES A on Wednesday, September 7.

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”, Marketwired.com published: “Genie Energy Ltd. Reports Fourth Quarter and Full Year 2014 Results” on March 11, 2015. More interesting news about Genie Energy Ltd (NYSE:GNE) was released by: Seekingalpha.com and their article: “Why Not Dream Of Genie Energy?” with publication date: January 27, 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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