The Attractiveness of Investing In Gentex Corp. (GNTX) is Growing

In a filing, Gentex Corp. revealed its Director GOODE GARY F unloaded Company’s shares for reported $0.25 million on Feb 09. In the deal valued at $35.02 per share,7,000 shares were sold. As a result of this transaction, GOODE GARY F now holds 29,180 shares worth roughly $1.03 million.

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Then, GOODE GARY F sold 7,000 shares, generating $238,792 in total proceeds. Upon selling the shares at $34.11, the Director now owns 29,180 shares.

Before that, Schaum Richard O sold 6,022 shares. Gentex Corp. shares valued at $204,334 were divested by the Director at a price of $33.93 per share. As a result of the transaction, Schaum Richard O now holds 62,555 shares, worth roughly $2.21 million.

BofA Securities upgraded its Gentex Corp. [GNTX] rating to a Neutral from a an Underperform in a research note published on July 06, 2023; the price target was increased to $33 from $26.

Price Performance Review of GNTX

On Friday, Gentex Corp. [NASDAQ:GNTX] saw its stock jump 1.17% to $35.32. Over the last five days, the stock has gained 3.76%. Gentex Corp. shares have risen nearly 8.14% since the year began. Nevertheless, the stocks have risen 22.81% over the past one year. While a 52-week high of $35.08 was reached on 02/09/24, a 52-week low of $25.77 was recorded on 01/04/24. SMA at 50 days reached $32.33, while 200 days put it at $30.80. A total of 1.43 million shares were traded, compared to the trading of 1.26 million shares in the previous session.

Levels Of Support And Resistance For GNTX Stock

The 24-hour chart illustrates a support level at 34.95, which if violated will result in even more drops to 34.58. On the upside, there is a resistance level at 35.52. A further resistance level may holdings at 35.73. The Relative Strength Index (RSI) on the 14-day chart is 70.84, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.26, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.92%. Stochastics %K at 93.21% indicates the stock is a selling.

How much short interest is there in Gentex Corp.?

A steep rise in short interest was recorded in Gentex Corp. stocks on Jan 31, 2024, growing by 0.7 million shares to a total of 3.37 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 2.67 million shares. There was a rise of 20.77%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.61% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.14.

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