Linkers Industries Limited (NASDAQ:LNKS – Get Free Report) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 63,818 shares, a drop of 82.4% from the May 31st total of 362,878 shares. Based on an average daily volume of 233,328 shares, the days-to-cover ratio is currently 0.3 days. Currently, 4.0% of the shares of the stock are sold short.
Insider Activity
In other news, major shareholder Financial Lp Hrt acquired 32,502 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average price of $2.34 per share, with a total value of $76,054.68. Following the purchase, the insider owned 159,782 shares of the company’s stock, valued at approximately $373,889.88. This represents a 25.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Linkers Industries Stock Down 7.7%
LNKS stock opened at $2.04 on Friday. Linkers Industries has a 12 month low of $1.14 and a 12 month high of $420.00. The firm has a 50 day simple moving average of $1.72 and a 200 day simple moving average of $95.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.69 and a quick ratio of 3.53.
Analysts Set New Price Targets
Separately, Wall Street Zen raised Linkers Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.
Read Our Latest Report on Linkers Industries
About Linkers Industries
Linkers Industries Ltd. is a holding company, which engages in the business of manufacturing, supplying, and selling connectors, assemblies, wire, and cable harnesses. It operates through the following geographical segments: Thailand, Malaysia, Switzerland, the United States of America, and Others. The company was founded on December 8, 2022 and is headquartered in Sungai Petani, Malaysia.
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