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

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

Nisun International Enterprise Development Group Stock Performance

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

Nisun International Enterprise Development Group declared that its board has approved a stock buyback program 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 programs are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Nisun International Enterprise Development Group

A hedge fund recently bought a new stake in Nisun International Enterprise Development Group stock. Quadrature Capital Ltd bought a new position in shares of Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,632 shares of the company’s stock, valued at approximately $105,000. Quadrature Capital Ltd owned approximately 0.52% of Nisun International Enterprise Development Group as of its most recent SEC filing. Hedge funds and other institutional investors own 4.73% of the company’s stock.

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.