Tracsis Announces Share Buyback and Cancellation

Tracsis ( (GB:TRCS) ) has issued an announcement.

Tracsis plc, a company involved in a share buyback programme, announced the purchase of 16,739 of its ordinary shares on the London Stock Exchange through its broker Berenberg. The shares were bought at prices ranging from 460.00 to 470.00 pence, with a volume-weighted average price of 469.37 pence. The company intends to cancel these shares, resulting in a total of 30,114,347 ordinary shares in issue, each with one voting right. This move is part of their strategic financial management, potentially impacting shareholder calculations under the FCA’s Disclosure Guidance and Transparency Rules.

The most recent analyst rating on (GB:TRCS) stock is a Buy with a £1245.00 price target. To see the full list of analyst forecasts on Tracsis stock, see the GB:TRCS Stock Forecast page.

Spark’s Take on GB:TRCS Stock

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

Tracsis shows a strong financial position supported by a robust balance sheet and positive technical indicators, suggesting potential upside. However, the high P/E ratio raises concerns about overvaluation, and recent declines in profitability pose risks. The ongoing share buyback program is a positive signal, enhancing the overall score.

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

More about Tracsis

Average Trading Volume: 112,138

Technical Sentiment Signal: Sell

Current Market Cap: £139.2M

See more insights into TRCS stock on TipRanks’ Stock Analysis page.