Saturday, June 25, 2022

A company insider recently sold 2,845 shares of Gentex Corporation [GNTX]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Gentex Corporation shares valued at $85,838 were sold by GOODE GARY F on May 20. At $30.17 per share, GOODE GARY F sold 2,845 shares. The insider’s holdings dropped to 27,861 shares worth approximately $0.78 million following the completion of this transaction.

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Also, Chiodo Matthew sold 5,700 shares, netting a total of over 166,667 in proceeds. Following the sale of shares at $29.24 each, the insider now holds 21,577 shares.

Before that, Boehm Neil had sold 4,500 shares from its account. In a trade valued at $131,580, the Chief Technology Officer traded Gentex Corporation shares for $29.24 each. Upon closing the transaction, the insider’s holdings decreased to 4,500 shares, worth approximately $0.73 million.

As published in their initiating research note from Exane BNP Paribas on April 11, 2022, Gentex Corporation [GNTX] has been an Outperform. Analysts at Seaport Global Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late July. As of January 28, 2021, Seaport Global Securities has initiated its “Neutral” rating for GNTX.

Analyzing GNTX’s Price Performance

On Wednesday, Gentex Corporation [NASDAQ: GNTX] plunged -0.53% to $27.97. The stock’s lowest price that day was $27.73, but it reached a high of $28.37 in the same session. During the last five days, there has been a drop of approximately -0.25%. Over the course of the year, Gentex Corporation shares have dropped approximately -19.74%. Shares of the company reached a 52-week high of $36.65 on 01/04/22 and a 52-week low of $26.16 on 06/16/22. A 50-day SMA is recorded $29.29, while a 200-day SMA reached $32.06. Nevertheless, trading volume fell to 1.21 million shares from 1.64 million shares the previous day.

Support And Resistance Levels for Gentex Corporation (GNTX)

According to the 24-hour chart, there is a support level at 27.68, which, if violated, would cause prices to drop to 27.38. In the upper region, resistance lies at 28.32. The next price resistance is at 28.66. RSI (Relative Strength Index) is 42.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.61, which suggests the price will decrease in the coming days. Percent R is at 64.99%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Gentex Corporation subject to short interest?

Stocks of Gentex Corporation saw a sharp rise in short interest on Apr 28, 2022 jumping by 1.07 million shares to 6.43 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 5.36 million shares. A jump of 16.64% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.6 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.6.

Which companies own the most shares of Gentex Corporation (GNTX)?

According to The Vanguard Group, Inc. filings, the company currently owns 23,099,939 shares, which is about 9.85% of the total GNTX shares outstanding. The investor’s shares have plunged by -351,088 from its previous 13-F filing of 23451027.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $560,707,567. Edgepoint Investment Group, Inc. acquire a 11.24% interest valued at $269.43 million while Ariel Investments LLC purchased a 3,925,355 stake. A total of -31,098 shares of Gentex Corporation were bought by Fondsmæglerselskabet Maj Invest A during the quarter, and 249,822 were bought by SSgA Funds Management, Inc. In its current portfolio, Cooke & Bieler LP holds 5,332,397 shares valued at $165.73 million.

In terms of Gentex Corporation share price expectations, FactSet research, analysts set an average price target of $34.39 in the next 12 months, up nearly 31.58% from the previous closing price of $28.12. Analysts anticipate Gentex Corporation stock to reach $38.00 by 2022, with the lowest price target being $25.00. In spite of this, 11 analysts ranked Gentex Corporation stock as an Overweight at the end of 2022. On July 27, 2020, KeyBanc Capital Markets assigned a price target of “an Overweight” to the stock and upgraded coverage with a $33.

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