NCC Group (LON:NCC) Stock Falls 1.6% – Here’s Why

NCC Group plc (LON:NCC) was down 1.6% during mid-day trading on Friday. The stock traded as low as GBX 155.40 and last traded at GBX 157.20. Approximately 3,352,228 shares traded hands during trading, a decline of 16% from the average daily volume of 4,000,433 shares. The stock had previously closed at GBX 159.80.

NCC Group Trading Down 1.6%

The company’s 50-day moving average is GBX 150.15 and its 200-day moving average is GBX 137.37. The company has a debt-to-equity ratio of 34.83, a quick ratio of 0.97 and a current ratio of 1.90. The firm has a market cap of £235.63 million, a price-to-earnings ratio of 52.40 and a beta of 0.66.

NCC Group announced that its board has authorized a stock repurchase plan on Monday, September 7th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

NCC Group Company Profile

NCC Group is a people-powered, tech-enabled global cyber security and software escrow business. Driven by a collective purpose to create a more secure digital future, c. 2,000 colleagues across Europe, North America, and Asia Pacific harness their collective insight, intelligence, and innovation to deliver cyber resilience solutions for both public and private sector clients globally. With decades of experience and a rich heritage, NCC Group is committed to developing sustainable solutions that continue to meet client’s current and future cyber security challenges.