tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Nexteq Proposes New Share Buyback Program to Enhance Flexibility

Story Highlights
Nexteq Proposes New Share Buyback Program to Enhance Flexibility

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Quixant ( (GB:NXQ) ) has shared an update.

Nexteq has announced a proposed share buyback program, seeking shareholder approval to repurchase up to 10% of its issued share capital. This initiative follows the completion of a previous buyback and aims to provide the company with flexibility to utilize its strong cash balance in the best interests of the company. The buyback could increase the Concert Party’s voting rights, necessitating a waiver under Rule 9 of the Takeover Code. The company emphasizes that the buyback will be conducted under specific pricing parameters and will not alter its dividend policy.

The most recent analyst rating on (GB:NXQ) stock is a Hold with a £71.00 price target. To see the full list of analyst forecasts on Quixant stock, see the GB:NXQ Stock Forecast page.

Spark’s Take on GB:NXQ Stock

According to Spark, TipRanks’ AI Analyst, GB:NXQ is a Neutral.

The stock’s overall score reflects a solid financial foundation and positive corporate events, tempered by mixed technical indicators and a high valuation. The company’s strong cash flow and strategic initiatives are positive, but the current P/E ratio suggests caution. Technical analysis indicates some bearish momentum, warranting careful monitoring.

To see Spark’s full report on GB:NXQ stock, click here.

More about Quixant

Nexteq, formerly known as Quixant, is a strategic technology solutions provider catering to selected industrial markets. The company specializes in enabling manufacturers of global electronic equipment to outsource non-core aspects of their product offerings, allowing them to focus on critical business drivers. Nexteq operates through two distinct brands: Quixant, which provides specialized computer platforms, and Densitron, a leader in human-machine interface technology. With operations in six countries, Nexteq serves over 500 customers across 47 countries.

Average Trading Volume: 117,637

Technical Sentiment Signal: Sell

Current Market Cap: £44.02M

Learn more about NXQ stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1