Nisun Announces Additional Share Repurchases Under Existing $15 Mln Program

(RTTNews) - 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.