A2Z Cust2Mate Solutions (NASDAQ:AZ) to Buyback $20.00 million in Outstanding Stock

A2Z Cust2Mate Solutions (NASDAQ:AZ) announced that its Board of Directors has approved a stock repurchase program on Monday, July 6th, RTT News reports. The company plans to buyback $20.00 million in shares. This buyback authorization allows the company to buy up to 7.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

A2Z Cust2Mate Solutions Trading Down 3.2%

Shares of AZ stock traded down $0.20 on Tuesday, hitting $6.01. The stock had a trading volume of 136,056 shares, compared to its average volume of 311,936. A2Z Cust2Mate Solutions has a twelve month low of $4.97 and a twelve month high of $12.36. The company has a fifty day moving average price of $6.33 and a two-hundred day moving average price of $6.55. The firm has a market cap of $267.69 million, a P/E ratio of -5.89 and a beta of 1.16.

A2Z Cust2Mate Solutions (NASDAQ:AZ) last posted its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). A2Z Cust2Mate Solutions had a negative net margin of 415.62% and a negative return on equity of 62.55%. The business had revenue of $3.32 million during the quarter, compared to analyst estimates of $3.06 million. On average, analysts expect that A2Z Cust2Mate Solutions will post -0.51 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of A2Z Cust2Mate Solutions to a “hold” rating in a report on Monday, March 30th. Wall Street Zen upgraded shares of A2Z Cust2Mate Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Northland Securities initiated coverage on A2Z Cust2Mate Solutions in a research report on Friday, March 27th. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.00.

A2Z Cust2Mate Solutions Company Profile

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.