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Tracsis ( (GB:TRCS) ) has issued an announcement.
Tracsis PLC has executed a share buyback program, purchasing 1,000 of its ordinary shares at a consistent price of 400 pence each. The company plans to cancel these shares, resulting in a total of 29,753,902 shares in issue, each with one voting right. This move is part of Tracsis’s strategy to manage its share capital and potentially enhance shareholder value.
The most recent analyst rating on (GB:TRCS) stock is a Buy with a £550.00 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’ overall score reflects strong financial stability and positive corporate events, such as strategic share buybacks and a new CEO appointment, aimed at enhancing shareholder value. However, technical indicators suggest bearish momentum, and the high P/E ratio indicates possible overvaluation, which weigh down the score.
To see Spark’s full report on GB:TRCS stock, click here.
More about Tracsis
Average Trading Volume: 113,905
Technical Sentiment Signal: Sell
Current Market Cap: £116.1M
Learn more about TRCS stock on TipRanks’ Stock Analysis page.