An Important Test for Genie Energy Ltd. (GNE)

The stock of Genie Energy Ltd. (NYSE:GNE) has been Initiated to Market Perform by Noble Capital Markets in its latest research note that was published on March 20. R. F. Lafferty analysts have downgraded their rating of GNE stock from Buy to Neutral in a separate flash note to investors on April 04.

Genie’s stock is covered by 1 analysts, with none of them rating the stock as Buy. It has been deemed to have strong buy by none of the analysts, 1 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only none analysts. none of them rated it as strong buy with 1 of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that GNE has an average analyst rating of 3.00.

Genie Energy Ltd., which has current market capitalization of above $200 Million, published its last quarter earnings on June 30, 2019. The company was able to amass $86.62 million in revenue. This figure is $14.23 million more than what analysts had expected which was $72.39 million.

GNE surged by $0.60 during the normal trading session on Tuesday and reaching a high of $7.81 during the day while it closed the day at $7.56. The Genie stock had a low trading volume of 0.45 million shares on that day, which is low compared to the average daily volume of 295.73M shares. GNE has also gained 11.83% of its value over the past 7 days. However, the stock has declined by 24.63% in the 3 months of the year. Over the past six months meanwhile, it has lost 4.42% while it has added 25.37% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -36.89% from its 3 months high price. However, taking another look at GNE will indicate that it is trading +15.6% away from its 90-day low. Looking at the bigger picture, the Genie Energy Ltd. stock has dropped by -36.89% from its 52-week high while it has surged by +48.82% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 18.75%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 20.77%. Over the past 20 days, Genie’s Stochastic %K stood at 16.84% while its Stochastic %D was revealed to be 14.5%.