Short Interest in Gentex Decreases By 23.3% (GNTX)
Shares of Gentex (NASDAQ:GNTX) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 1,678,274 shares, a drop of 23.3% from the March 31st total of 2,189,321 shares, American Banking News reports. Approximately 1.2% of the shares of the company are short sold. Based on an average daily trading volume, of 1,077,755 shares, the days-to-cover ratio is presently 1.6 days.
In other Gentex news, CAO Kevin Nash sold 6,728 shares of the company’s stock on the open market in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $29.71, for a total transaction of $199,888.88. Following the sale, the chief accounting officer now directly owns 6,975 shares of the company’s stock, valued at approximately $207,227. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on GNTX. Analysts at FBR Capital Markets initiated coverage on shares of Gentex in a research note on Friday, May 2nd. They set an “outperform” rating and a $39.00 price target on the stock. Separately, analysts at Pacific Crest initiated coverage on shares of Gentex in a research note on Tuesday, April 29th. They set a “sector perform” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Gentex from $42.00 to $45.00 in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $33.25.
Gentex (NASDAQ:GNTX) opened at 29.28 on Thursday. Gentex has a 1-year low of $21.29 and a 1-year high of $34.41. The stock has a 50-day moving average of $29.79 and a 200-day moving average of $30.83. The company has a market cap of $4.243 billion and a price-to-earnings ratio of 17.20.
Gentex (NASDAQ:GNTX) last released its earnings data on Wednesday, April 23rd. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.45 by $0.02. The company had revenue of $335.70 million for the quarter, compared to the consensus estimate of $324.20 million. During the same quarter last year, the company posted $0.32 earnings per share. Gentex’s revenue was up 24.6% compared to the same quarter last year. Analysts expect that Gentex will post $1.86 EPS for the current fiscal year.
Gentex Corporation is a supplier of automatic-dimming (NASDAQ:GNTX) rear-view mirrors and camera-based lighting-assist features to the global automotive industry.
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