Nisun International Enterprise Development Group (NASDAQ:NISN) Trading 0.9% Higher – Time to Buy?

Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN)’s share price shot up 0.9% during mid-day trading on Friday . The stock traded as high as $6.89 and last traded at $6.57. 51,663 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 65,532 shares. The stock had previously closed at $6.51.

Nisun International Enterprise Development Group Stock Up 0.9 %

The firm’s 50 day moving average price is $7.56 and its 200-day moving average price is $9.52.

Nisun International Enterprise Development Group declared that its board has initiated a stock repurchase plan on Wednesday, October 9th that allows the company to repurchase $15.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 28.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Nisun International Enterprise Development Group

An institutional investor recently raised its position in Nisun International Enterprise Development Group stock. Acadian Asset Management LLC grew 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 Securities & Exchange Commission. The fund owned 69,778 shares of the company’s stock after acquiring an additional 17,980 shares during the quarter. Acadian Asset Management LLC owned about 1.86% of Nisun International Enterprise Development Group worth $243,000 as of its most recent SEC filing. 4.73% of the stock is currently owned by institutional investors and hedge funds.

About Nisun International Enterprise Development Group

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.