Nisun International Enterprise Development Group Co., Ltd (NISN) has declared it will continue its stock repurchase efforts, expanding on its previously announced $15 million buyback initiative from October 9, 2024. To date, the company has bought back 121,341 of its own shares, paying an average price of $8.68 each, for a total expenditure of $1.05 million.
This decision is rooted in Nisun's assessment that its shares are currently undervalued, with a price-to-earnings ratio below the industry standard. Through these buybacks, Nisun anticipates a positive impact on its earnings per share.
At present, Nisun's stock is being traded at $5.28 on the Nasdaq, reflecting a 2.91 percent decrease in value.
