Shoals Technologies Group shares are trading higher after the company authorized a share repurchase program of up to $150 million and entered into a $25 million accelerated share repurchase agreement with Jefferies.
Portfolio Pulse from Benzinga Newsdesk
Shoals Technologies Group shares are trading higher after the company authorized a share repurchase program of up to $150 million and entered into a $25 million accelerated share repurchase agreement with Jefferies.
June 11, 2024 | 12:03 pm
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Shoals Technologies Group shares are trading higher following the announcement of a $150 million share repurchase program and a $25 million accelerated share repurchase agreement with Jefferies.
The authorization of a significant share repurchase program and an accelerated share repurchase agreement typically signals confidence from the company's management in its future prospects. This often leads to a positive short-term impact on the stock price as it reduces the number of shares outstanding and can increase earnings per share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100