Gencor Industries (NASDAQ:GENC) Trading Down 3.9% – Time to Sell?

Gencor Industries, Inc. (NASDAQ:GENC)’s share price dropped 3.9% during trading on Wednesday . The stock traded as low as $14.20 and last traded at $14.61. Approximately 32,859 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 27,259 shares. The stock had previously closed at $15.20.

Wall Street Analyst Weigh In

GENC has been the topic of a number of recent research reports. Loop Capital set a $17.60 target price on Gencor Industries in a research note on Monday, February 9th. Freedom Capital raised Gencor Industries to a “strong-buy” rating in a report on Friday, February 6th. Finally, UBS Group reaffirmed a “buy” rating on shares of Gencor Industries in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of $17.60.

Gencor Industries Stock Down 2.4%

The business has a fifty day simple moving average of $14.90 and a two-hundred day simple moving average of $14.17. The company has a market cap of $210.05 million, a P/E ratio of 13.03 and a beta of 0.52.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Essex Investment Management Co. LLC bought a new position in Gencor Industries in the third quarter valued at about $1,898,000. Teton Advisors LLC bought a new position in Gencor Industries in the third quarter valued at about $3,701,000. Legato Capital Management LLC bought a new position in Gencor Industries in the third quarter valued at about $549,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Gencor Industries by 14.6% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 21,200 shares of the company’s stock valued at $310,000 after acquiring an additional 2,700 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Gencor Industries by 16.0% in the third quarter. JPMorgan Chase & Co. now owns 17,286 shares of the company’s stock valued at $253,000 after acquiring an additional 2,383 shares during the period.

About Gencor Industries

Gencor Industries, Inc, together with its subsidiaries, designs, manufactures, and sells heavy machinery used in the production of highway construction materials and environmental control equipment. It offers hot-mix asphalt plants to produce asphalt paving materials; related asphalt plant equipment, including hot-mix storage silos, fabric filtration systems, cold feed bins, and other plant components; and a range of mobile batch plants. The company also provides combustion systems that transform solid, liquid, or gaseous fuels into usable energy, or burn multiple fuels in asphalt and aggregate drying industries; and combustion systems for rotary dryers, kilns, fume and liquid incinerators, and fuel heaters, as well as industrial incinerators.