Gencor Industries Inc
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Industrials : Machinery | Small Cap Blend
Company profile

Gencor Industries, Inc. is a manufacturer of heavy machinery used in the production of highway construction materials, synthetic fuels and environmental control equipment. The Company designs, manufactures and sells machinery and related equipment used primarily for the production of asphalt and highway construction materials. Its geographical segments are United States and Other. The Company's principal products include asphalt plants, combustion systems and fluid heat transfer systems. It also manufactures related asphalt plant equipment, including hot mix storage silos, fabric filtration systems, cold feed bins and other plant components. The Company also manufactures soil remediation machinery, as well as combustion systems for rotary dryers, kilns, fume and liquid incinerators and fuel heaters. Its General Combustion subsidiary also manufactures the Hy-Way heat and Beverley lines of thermal fluid heat transfer systems and specialty storage tanks for an array of industry uses.

Closing Price
$12.58
Day's Change
-0.35 (-2.71%)
Bid
--
Ask
--
B/A Size
--
Day's High
12.74
Day's Low
12.50
Volume
(Light)
Volume:
18,226

10-day average volume:
24,928
18,226

Nio stock pulls back after Citigroup downgrades on Tesla competition concerns

7:55 am ET January 12, 2021 (MarketWatch)
Print

Shares of Nio Inc. (NIO) slipped 1.0% in premarket trading Tuesday, pulling back slightly after back-to-back record closes, after Citigroup analyst Jeff Chung backed away from his bullish stance on the China-based electric vehicle maker, citing concerns over competition from Tesla Inc. (TSLA). Also pressuring the stock, Nio said late Monday it was offering $1.3 billion in convertible debt, which can be converted after Aug. 1, 2025 to shares or cash. Nio's stock closed at records the past two sessions (http://www.marketwatch.com/story/nios-stock-jumps-into-record-territory-after-unveiling-of-et7-luxury-sedan-2021-01-11), as investors cheered the unveiling over the weekend of the company's ET7 luxury sedan. "ET7 is good but not enough to make any critical changes from Tesla's challenge," Chung wrote in a note to clients. He estimates that ET7 will only register "limited incremental sales" of 3,000 to 4,000 units per month from the first quarter of 2022, and is likely to be challenged potentially by a Tesla Model-S "facelift" in the future. Tesla's stock rose 2.9% ahead of Tuesday's open, after the stock dropped 7.8% on Monday to snap a record 11-day win streak (http://www.marketwatch.com/story/tesla-stock-approaches-900-in-its-longest-ever-winning-streak-as-another-analyst-leaves-bear-camp-11610123997). Over the past three months, Nio's stock has rocketed 187.0% and Tesla shares have soared 83.4%, while the S&P 500 has gained 7.5%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

January 12, 2021 07:55 ET (12:55 GMT)

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