Nisun International Enterprise Development Group (NASDAQ:NISN) Trading Up 10.7% – Should You Buy?

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

Nisun International Enterprise Development Group Stock Performance

The stock has a 50-day moving average price of $12.88 and a 200-day moving average price of $9.19.

Nisun International Enterprise Development Group announced that its Board of Directors has approved a share buyback program on Wednesday, October 9th that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 28.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Nisun International Enterprise Development Group

A hedge fund recently raised its stake in Nisun International Enterprise Development Group stock. Acadian Asset Management LLC lifted its stake in shares of Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) by 34.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,778 shares of the company’s stock after purchasing an additional 17,980 shares during the quarter. Acadian Asset Management LLC owned 1.86% of Nisun International Enterprise Development Group worth $243,000 as of its most recent SEC filing. 4.73% of the stock is owned by institutional investors and hedge funds.

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.