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

Shares of Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) rose 10.7% during trading on Friday . The stock traded as high as $9.30 and last traded at $8.83. Approximately 95,422 shares changed hands 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 Trading Up 10.7 %

The company’s fifty day moving average is $12.88 and its 200 day moving average is $9.21.

Nisun International Enterprise Development Group declared that its board has approved a stock buyback plan on Wednesday, October 9th that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 28.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Nisun International Enterprise Development Group

An institutional investor recently bought a new position in Nisun International Enterprise Development Group stock. Quadrature Capital Ltd purchased a new stake in shares of Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 19,632 shares of the company’s stock, valued at approximately $105,000. Quadrature Capital Ltd owned 0.52% of Nisun International Enterprise Development Group as of its most recent SEC filing. Institutional investors and hedge funds 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.