As of last check, Image Sensing Systems Inc. (NASDAQ: ISNS) traded at $5.72, up 24.62% in premarket trading. The Image Sensing stock rose 0.81% to close at $4.61 on Thursday. The ISNS stock fluctuated between $4.5699 and $4.63 during the trading session. The ISNS stock is up following strategic changes released by the global company dedicated to helping improve safety and efficiency for cities and highways.
What were the changes?
Image Sensing Systems develops and delivers above-ground detection technology, applications, and solutions that improve safety and efficiency for cities and highways. ISNS helps Transportation Information System (ITS) professionals make more confident and proactive decisions by providing in-depth analytics and real-time reaction capabilities. ISNS’ headquarters are located in St. Paul, Minnesota.
In yesterday’s press release, Image Sensing Systems announced that the board of directors has approved the following actions:
- On May 20, 2021, ISNS common stock holders of record at the close of business on May 10, 2021, will receive a quarterly cash dividend of $0.12 per share.
- This program allows ISNS to buy back up to 200,000 common shares.
- Holding company reorganization was also implemented by ISNS.
- ISNS will become a subsidiary of the new holding company, Autoscope Technologies Corporation.
- Andrew Berger, the current Chairman of ISNS, will become the Chief Executive Officer of Autoscope Technologies Corporation.
ISNS going forward:
Autoscope Technologies Corporation will be the name of new holding company of Image Sensing Systems (ISNS), which will serve to emphasize the ISNS’ most successful and enduring product. It will provide ISNS with a strategy for future growth and value creation by signaling a new company structure and strategy.