Gencor Industries (NASDAQ:GENC) Stock Price Up 0.5% – Time to Buy?

Shares of Gencor Industries, Inc. (NASDAQ:GENC) shot up 0.5% on Tuesday . The company traded as high as $15.94 and last traded at $15.51. Approximately 21,709 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 30,148 shares. The stock had previously closed at $15.43.

Gencor Industries Price Performance

The firm has a market capitalization of $227.35 million, a P/E ratio of 14.10 and a beta of 0.48. The firm has a 50-day moving average price of $14.90 and a two-hundred day moving average price of $14.77.

Hedge Funds Weigh In On Gencor Industries

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of Gencor Industries by 295.9% during the fourth quarter. Royal Bank of Canada now owns 1,932 shares of the company’s stock worth $25,000 after acquiring an additional 1,444 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Gencor Industries by 104.1% in the third quarter. BNP Paribas Financial Markets now owns 2,633 shares of the company’s stock valued at $39,000 after purchasing an additional 1,343 shares during the period. eCIO Inc. purchased a new stake in shares of Gencor Industries in the fourth quarter valued at approximately $46,000. Los Angeles Capital Management LLC purchased a new stake in shares of Gencor Industries in the fourth quarter valued at approximately $55,000. Finally, Raymond James Financial Inc. bought a new position in Gencor Industries in the second quarter worth approximately $75,000.

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.