Shares of Radcom rose after the company's board authorized a share repurchase program of up to $20 million.

The stock gained 8.3% to $10.99 Thursday. Shares are down 16% year to date.

The company, which provides network intelligence and service assurance solutions for telecom operators, said it expects the program to remain in effect for up to 18 months.

The program reflects the board and management's confidence in Radcom's long-term strategy, while allowing it to return capital to shareholders and invest in its growth plans, the company said.