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Tracsis ( (GB:TRCS) ) just unveiled an update.
Tracsis plc has announced the purchase of 14,901 of its own ordinary shares as part of a share buyback programme. The shares were bought on the London Stock Exchange at a volume-weighted average price of 406.10 pence per share. The company plans to cancel these shares, resulting in a total of 29,817,470 ordinary 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 £1340.00 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.
The overall stock score is primarily influenced by strong financial stability and positive corporate actions like share buybacks. However, technical indicators point to a bearish trend, and a high P/E ratio raises concerns about valuation. These factors combined suggest cautious optimism, with corporate strategies providing a supportive backdrop against operational challenges.
To see Spark’s full report on GB:TRCS stock, click here.
More about Tracsis
Average Trading Volume: 117,443
Technical Sentiment Signal: Sell
Current Market Cap: £121.6M
See more insights into TRCS stock on TipRanks’ Stock Analysis page.