Network-1 Technologies (NTIP) Board of Directors Approves Stock Buyback Program

Network-1 Technologies (NYSE:NTIP) announced that its board has authorized a share repurchase program, which permits the company to buyback $5.00 million in outstanding shares on Friday, June 16th, EventVestor reports. This buyback authorization permits the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Network-1 Technologies (NTIP) traded down 6.02% during midday trading on Friday, reaching $3.90. The company had a trading volume of 122,025 shares. The stock’s 50 day moving average price is $4.40 and its 200-day moving average price is $4.05. Network-1 Technologies has a one year low of $2.33 and a one year high of $5.05. The firm has a market capitalization of $94.88 million and a P/E ratio of 4.58.

Network-1 Technologies (NYSE:NTIP) last issued its earnings results on Monday, May 15th. The company reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $6.22 million for the quarter. Network-1 Technologies had a net margin of 36.46% and a return on equity of 16.84%.

In related news, major shareholder Steven D. Heinemann sold 36,455 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $4.90, for a total value of $178,629.50. Following the transaction, the insider now owns 585,233 shares in the company, valued at approximately $2,867,641.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Steven D. Heinemann sold 74,294 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $4.75, for a total transaction of $352,896.50. Following the completion of the transaction, the insider now owns 585,233 shares in the company, valued at approximately $2,779,856.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,143 shares of company stock worth $940,040.

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About Network-1 Technologies

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