Gentex Short Interest Up 33.1% in August (GNTX)
Gentex (NASDAQ:GNTX) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 3,254,435 shares, an increase of 33.1% from the July 31st total of 2,444,440 shares, AmericanBankingNews.com reports. Currently, 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 731,106 shares, the days-to-cover ratio is presently 4.5 days.
In other Gentex news, Director John A. Mulder sold 4,256 shares of Gentex stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $29.57, for a total transaction of $125,849.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Wellington Shields raised their price target on shares of Gentex from $40.00 to $43.00 in a research note on Friday, July 25th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $36.71.
Gentex (NASDAQ:GNTX) opened at 29.62 on Wednesday. Gentex has a 1-year low of $22.77 and a 1-year high of $34.41. The stock’s 50-day moving average is $29.0 and its 200-day moving average is $29.66. The company has a market cap of $4.331 billion and a price-to-earnings ratio of 15.89.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 17th. Shareholders of record on Tuesday, October 7th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Friday, October 3rd.
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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