Shares of Praxair (NYSE:PX) Sees Large Outflow of Money

Praxair (NYSE:PX) :The total money flow, which is calculated as the dollar value of composite uptick minus downtick trades was negative ($1.32 million) and the uptick to downtick ratio was 0.66. The transaction value on upticks was $2.58 million and on downticks, the transaction value was $3.89 million. The transaction value of block trades during downticks was $1.51 million. The money flow was negative ($1.51 million), indicating the traders were booking profit on the price strength. Praxair (NYSE:PX) rose $1.62 at $110.1, during intraday Wednesday , a rise of 1.49% over the previous days close.


In an insider trading activity, Menezes Eduardo F, officer (Executive Vice President) of Praxair Inc, unloaded 25,000 shares at an average price of $114.01 on May 10, 2016. The total amount of the transaction was worth $2,850,250, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing. Currently the company Insiders own 0.22% of Praxair shares according to the proxy statements. Institutional Investors own 87.93% of Praxair shares.

The company shares have dropped -9.05% from its 1 Year high price. On Jul 1, 2015, the shares registered one year high at $120.51 and the one year low was seen on Jan 29, 2016. The 50-Day Moving Average price is $111.69 and the 200 Day Moving Average price is recorded at $108.47. Praxair (NYSE:PX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $109.97 and $109.72 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $110.70. The buying momentum continued till the end and the stock did not give up its gains. It closed at $110.65, notching a gain of 2.00% for the day. The total traded volume was 1,315,753 . The stock had closed at $108.48 on the previous day.

Praxair, Inc. (Praxair) is an industrial gas supplier in North and South America, Asia and Europe. The Companys operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, Praxair operates its surface technologies business through its wholly owned subsidiary, Praxair Surface Technologies, Inc., which represents the fifth segment. The Companys products in its industrial gases business include atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene). The company also designs, engineers and builds equipment that produces industrial gases primarily for internal use. The companys surface technologies segment, operated through Praxair Surface Technologies, Inc., supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.