A2Z Cust2Mate Solutions (NASDAQ:AZ) Board Initiates Share Buyback Program

A2Z Cust2Mate Solutions (NASDAQ:AZ) announced that its board has initiated a share repurchase plan on Monday, July 6th, RTT News reports. The company plans to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

A2Z Cust2Mate Solutions Price Performance

Shares of NASDAQ AZ traded down $0.20 during mid-day trading on Tuesday, hitting $6.01. The company had a trading volume of 136,056 shares, compared to its average volume of 311,936. The company has a market capitalization of $267.69 million, a PE ratio of -5.89 and a beta of 1.16. The business’s 50-day simple moving average is $6.33 and its 200 day simple moving average is $6.55. A2Z Cust2Mate Solutions has a 1-year low of $4.97 and a 1-year high of $12.36.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on AZ shares. Zacks Research raised shares of A2Z Cust2Mate Solutions to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings restated a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research report on Monday, April 20th. Northland Securities began coverage on A2Z Cust2Mate Solutions in a research note on Friday, March 27th. They issued an “outperform” rating and a $15.00 price objective for the company. Finally, Wall Street Zen upgraded A2Z Cust2Mate Solutions from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.