Gencor Industries (NASDAQ:GENC) Stock Price Up 0.3% – Time to Buy?

Gencor Industries, Inc. (NASDAQ:GENC)’s share price was up 0.3% during trading on Monday . The stock traded as high as $14.85 and last traded at $14.66. Approximately 23,281 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 30,288 shares. The stock had previously closed at $14.62.

Analysts Set New Price Targets

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

Gencor Industries Trading Down 1.2%

The company has a market cap of $217.23 million, a PE ratio of 13.47 and a beta of 0.49. The company has a fifty day simple moving average of $14.87 and a two-hundred day simple moving average of $14.05.

Institutional Trading of Gencor Industries

Several hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Gencor Industries by 8,317.4% in the fourth quarter. NewEdge Advisors LLC now owns 20,370 shares of the company’s stock worth $264,000 after acquiring an additional 20,128 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Gencor Industries by 6.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 61,519 shares of the company’s stock valued at $797,000 after purchasing an additional 3,800 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Gencor Industries by 295.9% in the 4th quarter. Royal Bank of Canada now owns 1,932 shares of the company’s stock valued at $25,000 after purchasing an additional 1,444 shares in the last quarter. Rothschild Wealth LLC purchased a new stake in shares of Gencor Industries during the 4th quarter worth $740,000. Finally, Squarepoint Ops LLC lifted its position in shares of Gencor Industries by 89.3% during the 4th quarter. Squarepoint Ops LLC now owns 18,975 shares of the company’s stock worth $246,000 after purchasing an additional 8,949 shares during the last quarter.

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.