The inTEST Corporation (NYSE:$INTT) Board of Directors initiated a stock repurchase plan for the beginning of November. It allowed the company to buy back $5.00 million in outstanding shares, or 11.3% of its shares, through open-market purchases.
Typically, a buyback plan such as this indicates that the company believes its shares are undervalued.
inTEST shares traded down $0.10 during mid-day trading on Friday, capping at $9.30. The trading volume was 99,900 shares, which is better than its average (85,078). The company has a 52-week low of $4.05 and a 52-week high of $10.25.
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