Fed’s Powell opens door to potential rate cuts at Jackson Hole
Network-1 Technologies, Inc. (NYSE American:NTIP) announced Monday that its board of directors has extended the company’s existing share repurchase program, authorizing the repurchase of up to $5 million of its common stock over the next two years.
According to a press release statement included in a recent SEC filing, the share repurchase program allows the company to buy back shares either in open market transactions or through privately negotiated deals, at the discretion of management. The timing and amount of any repurchases will depend on market conditions and other factors. The program may be increased, suspended, or discontinued at any time. InvestingPro data reveals the company maintains a strong financial position with a remarkable current ratio of 41.72, indicating robust liquidity to support the buyback program.
As of March 31, 2025, Network-1 had repurchased a total of 10,480,894 shares under the program since its inception in August 2011. The average price paid per share was $1.92, with an aggregate cost of $20,130,211, not including commissions. According to InvestingPro analysis, the stock currently appears undervalued based on its proprietary Fair Value calculations.
The extension of the program was approved by the board of directors as part of its ongoing evaluation of ways to utilize the company’s cash position. The company stated that the board believes the extension is in the best interests of Network-1 and its shareholders and will not affect its ability to execute future plans.
This information is based on a press release statement contained in a recent SEC filing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.