Short Interest in Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) Increases By 201.6%

Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 152,600 shares, a growth of 201.6% from the September 30th total of 50,600 shares. Based on an average daily volume of 129,300 shares, the days-to-cover ratio is currently 1.2 days. Currently, 5.2% of the company’s shares are sold short.

Institutional Trading of Nisun International Enterprise Development Group

An institutional investor recently raised its position in Nisun International Enterprise Development Group stock. Acadian Asset Management LLC increased its holdings in Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) by 34.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,778 shares of the company’s stock after acquiring an additional 17,980 shares during the quarter. Acadian Asset Management LLC owned approximately 1.86% of Nisun International Enterprise Development Group worth $243,000 as of its most recent SEC filing. 4.73% of the stock is currently owned by institutional investors.

Nisun International Enterprise Development Group Stock Up 5.2 %

Shares of NISN traded up $0.47 during trading hours on Friday, reaching $9.54. 235,672 shares of the company traded hands, compared to its average volume of 145,211. Nisun International Enterprise Development Group has a 12-month low of $2.19 and a 12-month high of $22.55. The stock’s fifty day moving average price is $13.30 and its 200 day moving average price is $8.87.

Nisun International Enterprise Development Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 9th that authorizes the company to buyback $15.00 million in shares. This buyback authorization authorizes the company to purchase up to 28.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Nisun International Enterprise Development Group Company Profile

Nisun International Enterprise Development Group Co, Ltd (NASDAQ: NISN) is a technology-driven, integrated supply chain solutions provider focused on transforming the corporate finance industry. Leveraging its rich industry experience, Nisun is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions.