The stock of Genie Energy Ltd. (NYSE:GNE) is now priced at $8.22 and the shares are 0.15 points up or 1.86% higher compared to its previous closing price of $8.07. The stock had 95330 contracts set over the past session. GNE shares’ daily volume is compared to its average trading volume at 0.14 million shares. However, it has a float of 17.26 million and although its performance was 9.65% over the week, it’s one to watch. GNE share price recently placing at $7.88 to $8.1046. However, some brokerage firms have priced the stock below the average, including one that has called $7.5.
The shorts are running away from the Genie Energy Ltd. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the GNE shares have declined. Short interest in the stock represents just 10.32% of its float, but the volume has dropped by 0. The volume of shorted shares dropped to from shares over the last two weeks. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, Genie Energy Ltd. (NYSE:GNE) raised by $0.88 over the week and gained $0.73 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $11.45. The stock recorded its established 52-week high on 07/31/19.
Since 03/12/20, the stock has traded to a low of $4.6 at 78.7%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.95. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Genie Energy Ltd.’s two-week RSI is 69.02. This suggests that the stock is neutral at the moment and that GNE shares’ price movement remains stable. The stochastic readings are equally revealing at 96.85% meaning the GNE share price is currently in oversold territory.
The technical chart shows that the GNE stock will likely settle at between $8.16 and $8.24 per share. However, if the stock dips below $7.93, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.79.
Currently, the stock is trading in the green of MACD, with a reading of 0.38. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned GNE a rating of Market Perform in their intiating review released on March 20. R. F. Lafferty analysts downgraded their recommendation of the stock from Buy to Neutral in a flash note released to investors on April 04.
Elsewhere, the GNE stocks P/S ratio currently stands at 89.7 above the group’s average of 28.2. Genie Energy Ltd. has its P/E ratio at 2.7, which means that the stock is currently trading at a premium relative to the 1.7 industry average.