The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $12.3 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 $10.84 million.
As published in a research note from Citigroup on April 10, 2024, Linde Plc. [LIN] has been rated down from a Buy to a Neutral and the price target has been revised to $500 from $475. Analysts at UBS downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late March. As of March 01, 2024, Wolfe Research has initiated its “Peer perform” rating for LIN. Earlier on February 16, 2024, TD Cowen resumed its rating. Their recommendation was “a Market perform” for LIN stock.
Analyzing LIN Stock Performance
During the last five days, there has been a drop of approximately -0.93%. Over the course of the year, Linde Plc. shares have jumped approximately 10.30%. 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 $448.16, while a 200-day SMA reached $404.38. Nevertheless, trading volume fell to 1.56 million shares from 1.47 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 448.86, which, if violated, would cause prices to drop to 444.73. In the upper region, resistance lies at 456.55. The next price resistance is at 460.11. RSI (Relative Strength Index) is 43.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.01, which suggests the price will decrease in the coming days. Percent R is at 77.45%, 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.
