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Thorney Technologies Limited ( (AU:TEK) ) just unveiled an announcement.
Thorney Technologies Ltd has provided an updated notification on its ongoing on-market share buy-back program for its ordinary fully paid shares listed under ASX code TEK. The company reported that it had repurchased a cumulative 5,543,293 shares before the previous trading day and bought back a further 24,241 shares on the prior day.
The daily update underscores Thorney Technologies’ continued execution of its capital management strategy via on-market buy-backs. This activity can signal management’s confidence in the company’s valuation and may enhance shareholder value over time by reducing the number of shares on issue, potentially improving metrics such as earnings per share.
The most recent analyst rating on (AU:TEK) stock is a Hold with a A$0.13 price target. To see the full list of analyst forecasts on Thorney Technologies Limited stock, see the AU:TEK Stock Forecast page.
More about Thorney Technologies Limited
Thorney Technologies Ltd is an Australian listed investment company focused on technology-related investments. Trading under the ASX code TEK, it holds a portfolio of technology and innovation-focused securities, offering investors exposure to the tech sector through an actively managed vehicle.
Average Trading Volume: 221,895
Technical Sentiment Signal: Strong Sell
Find detailed analytics on TEK stock on TipRanks’ Stock Analysis page.