Short Interest in Linn Energy Decreases By 10.7% (LINE)
Shares of Linn Energy (NASDAQ:LINE) were the recipient of a significant decrease in short interest during the month of May. As of May 30th, there was short interest totalling 9,499,218 shares, a decrease of 10.7% from the May 15th total of 10,637,373 shares, Analyst Ratings News reports. Currently, 4.8% of the shares of the stock are short sold. Based on an average daily volume of 1,247,162 shares, the short-interest ratio is currently 7.6 days.
LINE has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Linn Energy in a research note on Tuesday, May 27th. They now have a $31.00 price target on the stock, up previously from $30.00. Separately, analysts at Citigroup Inc. downgraded shares of Linn Energy from a “buy” rating to a “neutral” rating in a research note on Friday, April 4th. They now have a $32.00 price target on the stock, down previously from $41.50. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Linn Energy presently has a consensus rating of “Hold” and an average price target of $32.17.
Linn Energy (NASDAQ:LINE) opened at 31.26 on Wednesday. Linn Energy has a 1-year low of $20.35 and a 1-year high of $34.85. The stock has a 50-day moving average of $29.15 and a 200-day moving average of $30.29. The company’s market cap is $10.360 billion.
Linn Energy, LLC (NASDAQ:LINE) is an independent oil and natural gas company.
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