NCC Group (LON:NCC) Shares Down 1.6% – Here’s Why

NCC Group plc (LON:NCC) traded down 1.6% during trading on Friday. The company traded as low as GBX 155.40 and last traded at GBX 157.20. 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 Stock Performance

The stock has a 50-day moving average of GBX 150.15 and a 200 day moving average of GBX 137.37. The firm has a market capitalization of £235.63 million, a P/E ratio of 52.40 and a beta of 0.66. The company has a debt-to-equity ratio of 34.83, a quick ratio of 0.97 and a current ratio of 1.90.

NCC Group declared that its Board of Directors has initiated a stock buyback plan on Monday, September 7th that allows the company to repurchase outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

About NCC Group

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.