BEIJING (dpa-AFX) - Nisun International Enterprise Development Group Co., Ltd (NISN), Tuesday announced additional share repurchases under its $15 million share buyback program, announced on October 9, 2024.
As of today, the company has repurchased 121,341 shares at an average price of $8.68 per share, amounting to $1.05 million.
The announcement comes as Nisun believes that its shares are trading at an undervalued price and at a price-to-earnings ratio lower than the industry average.
The supply chain solutions provider expects the repurchases to be accretive to earnings per share.
Currently, Nisun's stock is trading at $5.28, down 2.91 percent on the Nasdaq.
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