Linde PLC (NYSE:LIN) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 4,863,800 shares, a decline of 11.8% from the June 30th total of 5,515,600 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 1,880,000 shares, the short-interest ratio is currently 2.6 days.
A number of research analysts have issued reports on LIN shares. KeyCorp boosted their target price on shares of Linde from $205.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Deutsche Bank upped their price target on shares of Linde from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. DZ Bank reaffirmed a “buy” rating on shares of Linde in a research note on Monday, July 22nd. Bank of America upped their price target on shares of Linde from $180.00 to $184.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 6th. Finally, BMO Capital Markets raised shares of Linde from a “market perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Monday, May 13th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $201.83.
Shares of NYSE LIN traded down $6.48 during midday trading on Wednesday, reaching $186.42. The company’s stock had a trading volume of 1,427,674 shares, compared to its average volume of 1,763,786. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.02 and a quick ratio of 0.85. The stock has a 50 day moving average price of $198.71. Linde has a one year low of $145.95 and a one year high of $206.82.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LIN. Krane Funds Advisors LLC bought a new stake in shares of Linde in the 2nd quarter worth approximately $25,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Linde in the 1st quarter worth approximately $29,000. Truvestments Capital LLC bought a new stake in shares of Linde in the 1st quarter worth approximately $30,000. Harvest Group Wealth Management LLC bought a new stake in shares of Linde in the 1st quarter worth approximately $31,000. Finally, Israel Discount Bank of New York bought a new stake in shares of Linde in the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 72.69% of the company’s stock.
Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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