NQ Mobile (NQ) Shares Down 9.4%
NQ Mobile Inc (NYSE:NQ) fell 9.4% during trading on Friday . The stock traded as low as $3.64 and last traded at $3.74. 2,220,106 shares traded hands during mid-day trading, an increase of 438% from the average session volume of 412,645 shares. The stock had previously closed at $4.13.
Separately, BidaskClub raised shares of NQ Mobile from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd.
NQ Mobile announced that its Board of Directors has approved a stock repurchase program on Monday, November 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
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NQ Mobile Company Profile
NQ Mobile Inc is a global provider of mobile Internet services. The Company provides a portfolio of offerings, including mobile game publishing platforms, mobile advertising platforms, mobile entertainment applications and platforms, mobile security and productivity applications, as well as other mobile applications.
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