Nisun International Enterprise Development Group (NASDAQ:NISN) Shares Up 0.9% – What’s Next?

Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN)’s stock price traded up 0.9% on Friday . The company traded as high as $6.89 and last traded at $6.57. 51,663 shares were traded 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 Price Performance

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

Nisun International Enterprise Development Group declared that its board has initiated a stock buyback plan on Wednesday, October 9th that allows the company to buyback $15.00 million in shares. This buyback authorization allows the company to purchase up to 28.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are 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 raised its stake in Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) by 34.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,778 shares of the company’s stock after acquiring an additional 17,980 shares during the period. Acadian Asset Management LLC owned approximately 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 hedge funds and other institutional investors.

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.