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

A2Z Cust2Mate Solutions (NASDAQ:AZ) declared that its Board of Directors has initiated a share buyback plan on Friday, March 27th, RTT News reports. The company plans to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

A2Z Cust2Mate Solutions Price Performance

AZ traded down $0.05 during midday trading on Friday, reaching $6.59. 299,667 shares of the company’s stock were exchanged, compared to its average volume of 378,512. A2Z Cust2Mate Solutions has a 1-year low of $5.00 and a 1-year high of $12.36. The stock has a market capitalization of $275.79 million, a PE ratio of -5.88 and a beta of 1.43. The business’s 50-day moving average price is $6.12 and its 200 day moving average price is $6.63.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Benchmark reissued a “buy” rating on shares of A2Z Cust2Mate Solutions in a research note on Monday, January 5th. Northland Securities assumed coverage on A2Z Cust2Mate Solutions in a research note on Friday. They issued an “outperform” rating and a $15.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.00.

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.