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Tracsis ( (GB:TRCS) ) has shared an announcement.
Tracsis plc, a company operating within the technology sector, has announced the execution of a share buyback programme. The company purchased 2,000 of its ordinary shares at an average price of 451.50 pence per share on the London Stock Exchange. These shares will be cancelled, reducing the total number of shares in issue to 30,131,029, which may impact shareholder voting rights and interests.
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: 114,124
Technical Sentiment Signal: Sell
Current Market Cap: £135.7M
See more insights into TRCS stock on TipRanks’ Stock Analysis page.