Aurora Mobile (NASDAQ:JG) to Buy Back $10 million in Shares

Aurora Mobile (NASDAQ:JG) declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 12th, RTT News reports. The company plans to buy back $10 million in outstanding shares. This buyback authorization allows the company to purchase up to 28.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Aurora Mobile Stock Performance

Shares of NASDAQ JG traded down $0.05 during mid-day trading on Thursday, reaching $5.83. The company’s stock had a trading volume of 12,828 shares, compared to its average volume of 21,975. The stock has a 50-day moving average of $6.70 and a two-hundred day moving average of $6.31. The stock has a market capitalization of $34.98 million, a P/E ratio of 32.67 and a beta of 0.63. Aurora Mobile has a 1-year low of $3.20 and a 1-year high of $10.37.

Aurora Mobile (NASDAQ:JG) last posted its quarterly earnings results on Thursday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.08) by $2.23. The business had revenue of $15.88 million during the quarter, compared to analyst estimates of $10.83 million. Aurora Mobile had a return on equity of 6.23% and a net margin of 1.53%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Aurora Mobile from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Insider Transactions at Aurora Mobile

In related news, Director Hon Sang Lee sold 11,470 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $5.55, for a total transaction of $63,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.20% of the stock is currently owned by company insiders.

About Aurora Mobile

Aurora Mobile Limited (NASDAQ: JG) is a technology company that provides mobile developer services and enterprise customer-engagement solutions. Its platform helps businesses and application developers communicate with users, analyze application activity, and support marketing and operational initiatives. The company’s offerings have included push-notification services through JPush, as well as tools for user engagement, application analytics, messaging, authentication, sharing, and deep linking.