Linkers Industries (NASDAQ:LNKS) Stock Price Down 10.3% – Here’s What Happened

Linkers Industries Limited (NASDAQ:LNKS) traded down 10.3% during mid-day trading on Monday . The company traded as low as $0.93 and last traded at $0.9691. Approximately 169,847 shares traded hands during trading, an increase of 10% from the average session volume of 154,205 shares. The stock had previously closed at $1.08.

Wall Street Analyst Weigh In

LNKS has been the subject of a number of analyst reports. Wall Street Zen upgraded Linkers Industries from a “strong sell” rating to a “sell” rating in a report on Sunday, June 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Linkers Industries in a report on Monday, July 6th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Linkers Industries currently has a consensus rating of “Sell”.

Linkers Industries Stock Up 5.1%

The company has a current ratio of 4.69, a quick ratio of 3.53 and a debt-to-equity ratio of 0.02. The company’s 50-day simple moving average is $1.57 and its 200 day simple moving average is $78.93.

Insider Buying and Selling

In related news, major shareholder Financial Lp Hrt sold 21,059 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $1.49, for a total transaction of $31,377.91. Following the completion of the sale, the insider owned 140,759 shares of the company’s stock, valued at $209,730.91. This represents a 13.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have purchased 56,996 shares of company stock worth $120,937 and have sold 37,222 shares worth $57,325.

Linkers Industries Company Profile

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.