Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Gentex Corp. shares valued at $446,087 were sold by Nash Kevin C on Feb 20 ’24. At $33.04 per share, Nash Kevin C sold 13,500 shares. The insider’s holdings dropped to 44,321 shares worth approximately $1.56 million following the completion of this transaction.
Also, Ryan Scott P sold 12,500 shares, netting a total of over 437,450 in proceeds. Following the sale of shares at $35.00 each, the insider now holds 28,949 shares.
Before that, GOODE GARY F had sold 7,000 shares from its account. In a trade valued at $245,139, the Director traded Gentex Corp. shares for $35.02 each. Upon closing the transaction, the insider’s holdings decreased to 7,000 shares, worth approximately $1.03 million.
As published in a research note from BofA Securities on July 06, 2023, Gentex Corp. [GNTX] has been rated up from an Underperform to a Neutral and the price target has been revised to $33 from $26. Analysts at Goldman upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of April 11, 2022, Exane BNP Paribas has initiated its “an Outperform” rating for GNTX. Earlier on July 26, 2021, Seaport Global Securities upgraded its rating. Their new recommendation was “a Buy” for GNTX stock which previously was a “a Neutral”.
Analyzing GNTX Stock Performance
During the last five days, there has been a drop of approximately -2.39%. Over the course of the year, Gentex Corp. shares have jumped approximately 7.72%. Shares of the company reached a 52-week high of $37.58 on 03/07/24 and a 52-week low of $30.76 on 01/04/24. A 50-day SMA is recorded $35.69, while a 200-day SMA reached $32.54. Nevertheless, trading volume fell to 1.74 million shares from 1.11 million shares the previous day.
Support And Resistance Levels for Gentex Corp. (GNTX)
According to the 24-hour chart, there is a support level at 34.92, which, if violated, would cause prices to drop to 34.65. In the upper region, resistance lies at 35.65. The next price resistance is at 36.11. RSI (Relative Strength Index) is 40.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.26, which suggests the price will decrease in the coming days. Percent R is at 96.31%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Gentex Corp. subject to short interest?
Stocks of Gentex Corp. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.37 million shares to 4.2 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.83 million shares. A jump of 8.81% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.06 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.06.
