Gencor Industries (NASDAQ:GENC) Stock Price Down 2.5% - Here's Why

Gencor Industries, Inc. (NASDAQ:GENC - Get Free Report) traded down 2.5% during mid-day trading on Friday . The stock traded as low as $13.73 and last traded at $13.84. 24,228 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 28,203 shares. The stock had previously closed at $14.20.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on shares of Gencor Industries in a research report on Friday, May 16th. They issued a "hold" rating for the company.

Gencor Industries Trading Down 0.3%

The company has a fifty day moving average price of $14.23 and a two-hundred day moving average price of $13.69. The firm has a market cap of $203.89 million, a P/E ratio of 12.65 and a beta of 0.52.

Hedge Funds Weigh In On Gencor Industries

A number of hedge funds have recently added to or reduced their stakes in GENC. Deutsche Bank AG bought a new position in shares of Gencor Industries during the fourth quarter worth about $34,000. eCIO Inc. bought a new position in shares of Gencor Industries in the 1st quarter worth about $43,000. GAMMA Investing LLC lifted its stake in Gencor Industries by 1,247.2% in the first quarter. GAMMA Investing LLC now owns 3,624 shares of the company's stock valued at $44,000 after buying an additional 3,355 shares during the period. Strs Ohio bought a new position in Gencor Industries during the first quarter worth $136,000. Finally, Bank of America Corp DE grew its holdings in Gencor Industries by 32.5% in the fourth quarter. Bank of America Corp DE now owns 11,981 shares of the company's stock worth $211,000 after purchasing an additional 2,938 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.