Nisun International Enterprise Development Group (NASDAQ:NISN) Stock Price Up 10.7% – Still a Buy?

Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) shares traded up 10.7% on Friday . The stock traded as high as $9.30 and last traded at $8.83. 95,422 shares traded hands during trading, a decline of 33% from the average session volume of 142,869 shares. The stock had previously closed at $7.98.

Nisun International Enterprise Development Group Trading Up 10.7 %

The company’s 50-day simple moving average is $12.88 and its two-hundred day simple moving average is $9.21.

Nisun International Enterprise Development Group announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 9th that permits the company to buyback $15.00 million in shares. This buyback authorization permits the company to buy up to 28.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Nisun International Enterprise Development Group

An institutional investor recently raised its position in Nisun International Enterprise Development Group stock. Acadian Asset Management LLC lifted its stake in Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) by 34.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,778 shares of the company’s stock after purchasing an additional 17,980 shares during the period. Acadian Asset Management LLC owned 1.86% of Nisun International Enterprise Development Group worth $243,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 4.73% of the company’s stock.

Nisun International Enterprise Development Group Company Profile

Nisun International Enterprise Development Group Co, Ltd (NASDAQ: NISN) is a technology-driven, integrated supply chain solutions provider focused on transforming the corporate finance industry. Leveraging its rich industry experience, Nisun is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions.