Gencor Industries (NASDAQ:GENC) Trading Up 12.2% – Here’s Why

Gencor Industries, Inc. (NASDAQ:GENC) shares rose 12.2% on Friday . The company traded as high as $15.27 and last traded at $15.20. Approximately 107,312 shares traded hands during mid-day trading, an increase of 262% from the average daily volume of 29,624 shares. The stock had previously closed at $13.55.

Analyst Upgrades and Downgrades

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

Gencor Industries Trading Up 12.2%

The firm has a 50-day simple moving average of $13.35 and a two-hundred day simple moving average of $14.14. The company has a market capitalization of $222.80 million, a price-to-earnings ratio of 13.82 and a beta of 0.52.

Institutional Trading of Gencor Industries

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in Gencor Industries by 16.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 87,782 shares of the company’s stock worth $1,067,000 after purchasing an additional 12,462 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Gencor Industries in the first quarter valued at approximately $194,000. Strs Ohio acquired a new stake in shares of Gencor Industries in the first quarter worth $136,000. Evermay Wealth Management LLC bought a new stake in shares of Gencor Industries during the 2nd quarter worth $26,000. Finally, Pullen Investment Management LLC grew its stake in Gencor Industries by 14.8% in the 2nd quarter. Pullen Investment Management LLC now owns 48,559 shares of the company’s stock valued at $680,000 after buying an additional 6,248 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.