Gencor Industries (NASDAQ:GENC) Trading Up 2.2% – Should You Buy?

Gencor Industries, Inc. (NASDAQ:GENC)’s stock price rose 2.2% during trading on Thursday . The stock traded as high as $14.19 and last traded at $14.11. Approximately 30,674 shares changed hands during trading, an increase of 6% from the average daily volume of 28,867 shares. The stock had previously closed at $13.80.

Wall Street Analyst Weigh In

Separately, Loop Capital set a $16.00 price objective on shares of Gencor Industries in a research report on Tuesday, January 6th.

Gencor Industries Stock Performance

The firm has a fifty day simple moving average of $13.11 and a 200-day simple moving average of $14.21. The company has a market capitalization of $205.07 million, a PE ratio of 12.72 and a beta of 0.51.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GENC. JPMorgan Chase & Co. increased its position in shares of Gencor Industries by 16.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,286 shares of the company’s stock worth $253,000 after purchasing an additional 2,383 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Gencor Industries in the third quarter worth about $650,000. Millennium Management LLC increased its holdings in Gencor Industries by 133.1% in the third quarter. Millennium Management LLC now owns 42,391 shares of the company’s stock valued at $620,000 after buying an additional 24,207 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Gencor Industries by 35.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 57,719 shares of the company’s stock valued at $844,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Gencor Industries in the 3rd quarter valued at approximately $147,000.

Gencor Industries Company Profile

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.