The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Gentex Corp shares valued at $15,762,500 were purchased by GENTEX CORP on Aug 23 ’24. At $5.00 per share, GENTEX CORP acquired 3,152,500 shares. The insider’s holdings grew to 6,463,808 shares worth approximately $193.14 million following the completion of this transaction.
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Also, ANDERSON JOSEPH B JR sold 4,716 shares, netting a total of over 162,503 in proceeds. Following the sale of shares at $34.46 each, the insider now holds 3,764 shares.
Before that, GOODE GARY F had sold 4,716 shares from its account. In a trade valued at $162,503, the Director traded Gentex Corp shares for $34.46 each. Upon closing the transaction, the insider’s holdings decreased to 4,716 shares, worth approximately $0.73 million.
As published in their initiating research note from UBS on September 04, 2024, Gentex Corp [GNTX] has been a Neutral and the price target has been revised to $34. Analysts at Exane BNP Paribas downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in late July. As of July 06, 2023, BofA Securities has increased its “an Underperform” rating to a “Neutral” for GNTX. Earlier on December 14, 2022, Goldman upgraded its rating. Their new recommendation was “a Neutral” for GNTX stock which previously was a “a Sell”.
Analyzing GNTX Stock Performance
During the last five days, there has been a drop of approximately -1.65%. Over the course of the year, Gentex Corp shares have dropped approximately -8.51%. Shares of the company reached a 52-week high of $37.58 on 03/07/24 and a 52-week low of $28.30 on 08/12/24. A 50-day SMA is recorded $29.89, while a 200-day SMA reached $32.79. Nevertheless, trading volume fell to 0.78 million shares from 0.93 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 29.60, which, if violated, would cause prices to drop to 29.33. In the upper region, resistance lies at 30.03. The next price resistance is at 30.19. RSI (Relative Strength Index) is 48.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.63, which suggests the price will decrease in the coming days. Percent R is at 61.05%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
