Share Buyback Program Approved by A2Z Cust2Mate Solutions (NASDAQ:AZ) Board of Directors

A2Z Cust2Mate Solutions (NASDAQ:AZ) declared that its board has approved a share repurchase plan on Wednesday, January 7th, RTT News reports. The company plans to buyback $20.00 million in shares. This buyback authorization permits the company to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Benchmark restated a “buy” rating on shares of A2Z Cust2Mate Solutions in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.00.

A2Z Cust2Mate Solutions Price Performance

NASDAQ AZ traded up $0.24 during trading on Wednesday, hitting $8.04. 1,147,894 shares of the company’s stock traded hands, compared to its average volume of 443,699. The stock has a fifty day moving average of $6.22 and a two-hundred day moving average of $8.04. A2Z Cust2Mate Solutions has a 12-month low of $5.00 and a 12-month high of $12.36. The firm has a market cap of $336.47 million, a P/E ratio of -7.18 and a beta of 1.39.

A2Z Cust2Mate Solutions (NASDAQ:AZ) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.07) earnings per share (EPS) for the quarter. A2Z Cust2Mate Solutions had a negative return on equity of 86.58% and a negative net margin of 488.70%.

About A2Z Cust2Mate Solutions

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.