Thorney Technologies Updates Market on Ongoing Share Buy-Back Activity

Thorney Technologies Limited ( (AU:TEK) ) has issued 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 the ASX code TEK. The company reported that a total of 3,272,985 shares had been bought back prior to the latest trading day, with an additional 77,073 shares repurchased on the previous day as part of the program.

The latest daily update signals Thorney Technologies’ continued execution of its capital management strategy through regular on-market buy-backs. This ongoing reduction of shares on issue may support earnings per share over time and could be viewed as a sign of confidence by management in the company’s underlying value for existing shareholders.

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 that holds a portfolio of technology-focused securities under the ASX code TEK. The company provides investors with exposure to a range of technology and innovation opportunities through its actively managed holdings in the sector.

YTD Price Performance: 8.33%

Average Trading Volume: 260,528

Technical Sentiment Signal: Hold

For detailed information about TEK stock, go to TipRanks’ Stock Analysis page.