Euro Tech (NASDAQ:CLWT – Get Free Report) declared that its Board of Directors has approved a share buyback plan on Thursday, February 20th, RTT News reports. The company plans to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
Euro Tech Stock Up 3.5 %
Euro Tech stock opened at $1.19 on Friday. The firm’s fifty day moving average price is $1.35 and its 200 day moving average price is $1.47. Euro Tech has a 12-month low of $1.11 and a 12-month high of $1.94.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on shares of Euro Tech in a research note on Saturday. They issued a “sell” rating on the stock.
Euro Tech Company Profile
Euro Tech Holdings Company Limited primarily distributes water treatment equipment, laboratory instruments, analyzers, test kits and related supplies, and power generation equipment to commercial customers, and governmental agencies in Hong Kong and the People's Republic of China. The company operates in two segments, Trading and Manufacturing, and Engineering.
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