A2Z Cust2Mate Solutions (NASDAQ:AZ) to Buyback $20.00 million in Shares

A2Z Cust2Mate Solutions (NASDAQ:AZ) announced that its board has initiated a stock repurchase program on Wednesday, January 7th, RTT News reports. The company plans to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

A2Z Cust2Mate Solutions Stock Up 0.3%

NASDAQ:AZ opened at $7.70 on Friday. The stock’s 50 day moving average price is $6.24 and its two-hundred day moving average price is $8.02. The firm has a market capitalization of $322.25 million, a price-to-earnings ratio of -6.87 and a beta of 1.39. A2Z Cust2Mate Solutions has a 12-month low of $5.00 and a 12-month high of $12.36.

A2Z Cust2Mate Solutions (NASDAQ:AZ) last issued its earnings results on Thursday, November 13th. The company reported ($0.07) EPS for the quarter. A2Z Cust2Mate Solutions had a negative return on equity of 86.58% and a negative net margin of 488.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AZ shares. Weiss Ratings restated a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research note on Wednesday, October 8th. Benchmark reissued a “buy” rating on shares of A2Z Cust2Mate Solutions in a report on Monday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.00.

About A2Z Cust2Mate Solutions

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.