GNTX Spikes to New Yearly Highs on Heavy Volume

Shares of Gentex Corp. (GNTX) jumped the most in the Russell 1K Index during the Wednesday morning trading session. The supplier of vehicle mirrors earned a bullish brokerage note today, as Soleil Securities Corp. had its PPS estimate increased to $40 from $28.

GNTX has added more than 10.5% in Nasdaq electronic trading, with the shares returning year-to-date nearly 54% as of today’s new 52-wkh of $30.28. Shares are seeing huge volume; mid-way through the session ticker has already traded 3.4 million shares, which is 3x the 3-month – daily average volume of 1.3 million shares.

The stock is currently above its 50-day moving average of $21.43 and above its 200-day moving average of $19.88. The 52 week trading range for the Zeeland, Michigan – based co., which has a current annual dividend yield of 1.64%, has been between $16.54 – $28.23 per share.

GNTX currently trades at a trailing 12 P/E of 31.37, a forward multiple of 27.217, an EPS of  0.94 and a P/E to Growth ratio of 1.42.

GNTX has a market cap of $4.1 billion. The security gained $2.60, or 10.2 percent, to $29.50 at 12:36 p.m. EST in Nasdaq composite trading.

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About Ron Haruni 1067 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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