Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Linde Plc. shares valued at $2,842,105 were sold by Bichara Guillermo on Mar 12 ’24. At $471.01 per share, Bichara Guillermo sold 6,034 shares. The insider’s holdings dropped to 27,161 shares worth approximately $12.42 million following the completion of this transaction.
Also, Durbin Sean sold 5,277 shares, netting a total of over 2,466,417 in proceeds. Following the sale of shares at $467.39 each, the insider now holds 8,151 shares.
Before that, Strauss David P had sold 2,523 shares from its account. In a trade valued at $1,174,836, the Executive VP, Chief HR Officer traded Linde Plc. shares for $465.65 each. Upon closing the transaction, the insider’s holdings decreased to 2,523 shares, worth approximately $10.95 million.
As published in a research note from UBS on March 27, 2024, Linde Plc. [LIN] has been rated down from a Buy to a Neutral and the price target has been revised to $510 from $482. Analysts at Wolfe Research started covering the stock with ‘”a Peer perform”‘ outlook in a report released in early March. As of February 16, 2024, TD Cowen has reiterated its “Market perform” rating for LIN. Earlier on January 22, 2024, Stifel downgraded its rating. Their new recommendation was “a Hold” for LIN stock which previously was a “a Buy”.
Analyzing LIN Stock Performance
During the last five days, there has been a drop of approximately -1.92%. Over the course of the year, Linde Plc. shares have jumped approximately 11.33%. Shares of the company reached a 52-week high of $477.71 on 03/13/24 and a 52-week low of $396.07 on 02/05/24. A 50-day SMA is recorded $442.85, while a 200-day SMA reached $402.21. Nevertheless, trading volume fell to 2.19 million shares from 1.45 million shares the previous day.
Support And Resistance Levels for Linde Plc. (LIN)
According to the 24-hour chart, there is a support level at 453.17, which, if violated, would cause prices to drop to 449.09. In the upper region, resistance lies at 464.14. The next price resistance is at 471.03. RSI (Relative Strength Index) is 47.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.78, which suggests the price will decrease in the coming days. Percent R is at 93.55%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Linde Plc. subject to short interest?
Stocks of Linde Plc. saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.85 million shares to 4.16 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.31 million shares. A jump of 20.43% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.1 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.1.
