Short Interest in Gentex Co. (NASDAQ:GNTX) Expands By 17.1%
Gentex Co. (NASDAQ:GNTX – Get Free Report) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 3,430,000 shares, a growth of 17.1% from the November 15th total of 2,930,000 shares. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.5% of the shares of the stock are short sold.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.00.
Read Our Latest Stock Analysis on Gentex
Gentex Stock Performance
NASDAQ GNTX traded down $0.44 during mid-day trading on Friday, reaching $31.64. 3,045,899 shares of the stock were exchanged, compared to its average volume of 1,304,480. Gentex has a 1-year low of $25.77 and a 1-year high of $34.33. The business’s fifty day simple moving average is $30.52 and its 200 day simple moving average is $30.82. The stock has a market capitalization of $7.38 billion, a PE ratio of 18.50, a PEG ratio of 0.80 and a beta of 0.97.
Gentex (NASDAQ:GNTX – Get Free Report) last announced its earnings results on Friday, October 27th. The auto parts company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Gentex had a net margin of 18.04% and a return on equity of 18.38%. The firm had revenue of $575.85 million for the quarter, compared to analyst estimates of $567.57 million. During the same quarter last year, the business earned $0.31 earnings per share. Gentex’s revenue was up 16.7% compared to the same quarter last year. On average, analysts anticipate that Gentex will post 1.77 EPS for the current year.
Gentex Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, January 4th. Gentex’s dividend payout ratio is currently 28.07%.
Hedge Funds Weigh In On Gentex
A number of large investors have recently bought and sold shares of the stock. Synovus Financial Corp raised its stake in Gentex by 1.7% during the third quarter. Synovus Financial Corp now owns 20,068 shares of the auto parts company’s stock worth $653,000 after purchasing an additional 333 shares during the period. Wahed Invest LLC raised its stake in Gentex by 12.1% during the second quarter. Wahed Invest LLC now owns 3,401 shares of the auto parts company’s stock worth $100,000 after purchasing an additional 368 shares during the period. Commonwealth Equity Services LLC raised its stake in Gentex by 0.5% during the third quarter. Commonwealth Equity Services LLC now owns 72,087 shares of the auto parts company’s stock worth $1,718,000 after purchasing an additional 380 shares during the period. Blair William & Co. IL raised its stake in Gentex by 5.2% during the first quarter. Blair William & Co. IL now owns 8,095 shares of the auto parts company’s stock worth $227,000 after purchasing an additional 400 shares during the period. Finally, Lincoln National Corp raised its stake in shares of Gentex by 2.3% in the 3rd quarter. Lincoln National Corp now owns 17,940 shares of the auto parts company’s stock valued at $584,000 after acquiring an additional 411 shares during the period. Hedge funds and other institutional investors own 84.60% of the company’s stock.
Gentex Company Profile (Get Free Report)
Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Gentex, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Gentex wasn’t on the list.
While Gentex currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Original: MarketBeat News Feed: Short Interest in Gentex Co. (NASDAQ:GNTX) Expands By 17.1%