After Today’s Huge Decline, Is Genie Energy Ltd’s Near-Term Analysis Negative?

The stock of Genie Energy Ltd (NYSE:GNE) is a huge mover today! The stock decreased 4.12% or $0.3 during the last trading session, hitting $6.99. About 111,923 shares traded hands or 59.44% up from the average. Genie Energy Ltd (NYSE:GNE) has declined 29.70% since August 27, 2015 and is downtrending. It has underperformed by 33.65% the S&P500. The move comes after 7 months negative chart setup for the $167.59 million company. It was reported on Apr, 6 by We have $6.01 PT which if reached, will make NYSE:GNE worth $23.46M less.

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.”

The institutional sentiment decreased to 1.2 in Q3 2015. Its down 1.13, from 2.33 in 2015Q2. The ratio dropped, as 7 funds sold all Genie Energy Ltd shares owned while 13 reduced positions. 4 funds bought stakes while 20 increased positions. They now own 8.94 million shares or 95.76% more from 4.57 million shares in 2015Q2.

Greenwood Investments Inc. holds 4.57% of its portfolio in Genie Energy Ltd for 539,731 shares. Paragon Associates & Paragon Associates Ii Joint Venture owns 179,734 shares or 1.58% of their US portfolio. Moreover, Vnbtrust National Association has 0.72% invested in the company for 153,661 shares. The New York-based Salzhauer Michael has invested 0.18% in the stock. Bridgeway Capital Management Inc, a Texas-based fund reported 48,667 shares.

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