A Reversal for Gentex Corporation (GNTX) Is Not Near. The Formed Wedge Down Chart Pattern

July 18, 2017 - By Stephen Andrade

Investors sentiment decreased to 0.77 in 2016 Q4. Its down 0.08, from 0.85 in 2016Q3. It is negative, as 37 investors sold Gentex Corporation shares while 145 reduced holdings. 27 funds opened positions while 114 raised stakes. 234.11 million shares or 1.78% less from 238.35 million shares in 2016Q3 were reported.
120,394 were reported by Credit Agricole S A. Grp One Trading Lp accumulated 7,131 shares. Sei Investments Company owns 0.02% invested in Gentex Corporation (NASDAQ:GNTX) for 200,416 shares. Blackrock has 170,049 shares. Foyston Gordon And Payne Inc, Ontario – Canada-based fund reported 47,470 shares. Clark Capital Mngmt holds 0.61% of its portfolio in Gentex Corporation (NASDAQ:GNTX) for 597,252 shares. M&T Bank reported 0.01% of its portfolio in Gentex Corporation (NASDAQ:GNTX). Ent Fincl owns 454 shares. Tradewinds Cap Mgmt Limited Com invested in 0.01% or 853 shares. 171,061 were accumulated by Fort Lp. Eaton Vance holds 0.05% or 885,318 shares. Moreover, Sterling Management Ltd Liability Com has 0.91% invested in Gentex Corporation (NASDAQ:GNTX). Carroll Fincl Associates holds 776 shares or 0% of its portfolio. Franklin Resource reported 0.01% of its portfolio in Gentex Corporation (NASDAQ:GNTX). Brandywine Inv Management Ltd Co invested in 0.15% or 1.19 million shares.

Since January 30, 2017, it had 0 insider buys, and 5 selling transactions for $962,163 activity. The insider SOTOK FREDERICK A sold 12,000 shares worth $251,162. Shares for $192,155 were sold by MULDER JOHN A on Thursday, June 1. Downing Steven R sold $211,111 worth of stock. Nash Kevin C sold 4,544 shares worth $94,970.

The stock of Gentex Corporation (GNTX) formed a down wedge with $17.92 target or 4.00 % below today’s $18.67 share price. The 5 months wedge indicates high risk for the $5.51B company. If the $17.92 price target is reached, the company will be worth $220.40M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.43% or $0.08 during the last trading session, reaching $18.67. About shares traded. Gentex Corporation (NASDAQ:GNTX) has risen 19.63% since July 18, 2016 and is uptrending. It has outperformed by 2.93% the S&P500.

Analysts expect Gentex Corporation (NASDAQ:GNTX) to report $0.32 EPS on July, 28.They anticipate $0.02 EPS change or 6.67 % from last quarter’s $0.3 EPS. GNTX’s profit would be $94.44 million giving it 14.59 P/E if the $0.32 EPS is correct. After having $0.33 EPS previously, Gentex Corporation’s analysts see -3.03 % EPS growth.

Gentex Corporation (NASDAQ:GNTX) Ratings Coverage

Among 4 analysts covering Gentex Corp (NASDAQ:GNTX), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Gentex Corp had 6 analyst reports since October 20, 2015 according to SRatingsIntel. Susquehanna initiated it with “Neutral” rating and $21 target in Monday, December 19 report. On Friday, October 21 the stock rating was maintained by FBR Capital with “Outperform”. On Wednesday, January 27 the stock rating was downgraded by Robert W. Baird to “Neutral”.

More important recent Gentex Corporation (NASDAQ:GNTX) news were published by: Benzinga.com which released: “Gentex A Strong Sell With 40-80% Downside Potential Near Term, Says Spruce Point” on July 13, 2017, also Nasdaq.com published article titled: “Gentex Corporation (GNTX) Ex-Dividend Date Scheduled for July 03, 2017”, Seekingalpha.com published: “Gentex: Buy And Hold Forever” on June 27, 2017. More interesting news about Gentex Corporation (NASDAQ:GNTX) was released by: Seekingalpha.com and their article: “Business Under Pressure And Aggressive Accounting Suggests Gentex Has 40-80 …” with publication date: July 14, 2017.

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