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Hunting ( (GB:HTG) ) has shared an announcement.
Hunting PLC, a company involved in the energy services sector, has executed a share buyback program as part of its strategy to manage its capital structure. The company purchased 74,089 of its ordinary shares at an average price of 368.90 pence per share, with the highest price paid being 370.50 pence and the lowest at 367.00 pence. These shares will be canceled, reducing the total number of shares in issue to 158,868,195, which will also be the new total number of voting rights. This move is likely aimed at enhancing shareholder value and optimizing the company’s capital allocation.
The most recent analyst rating on (GB:HTG) stock is a Buy with a £600.00 price target. To see the full list of analyst forecasts on Hunting stock, see the GB:HTG Stock Forecast page.
Spark’s Take on GB:HTG Stock
According to Spark, TipRanks’ AI Analyst, GB:HTG is a Neutral.
Hunting PLC’s stock score of 56 reflects strong revenue growth and a solid balance sheet, counterbalanced by profitability challenges and bearish technical trends. Positive corporate events and a reasonable dividend yield provide some optimism, yet the negative P/E ratio highlights valuation concerns.
To see Spark’s full report on GB:HTG stock, click here.
More about Hunting
Average Trading Volume: 477,290
Technical Sentiment Signal: Buy
Current Market Cap: £562.2M
For detailed information about HTG stock, go to TipRanks’ Stock Analysis page.