Hyperscale Data (NYSEAMERICAN:GPUS) Initiates Stock Buyback Plan

Hyperscale Data (NYSEAMERICAN:GPUS) announced that its board has authorized a stock repurchase program on Tuesday, May 26th, RTT News reports. The company plans to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Hyperscale Data Price Performance

NYSEAMERICAN:GPUS traded up $0.01 during trading hours on Tuesday, hitting $0.17. 109,355,563 shares of the company were exchanged, compared to its average volume of 31,817,574. Hyperscale Data has a 52-week low of $0.11 and a 52-week high of $7.00. The company has a quick ratio of 0.50, a current ratio of 0.53 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average price is $0.15 and its 200-day moving average price is $0.21.

Insiders Place Their Bets

In related news, Chairman Milton C. Ault III bought 397,500 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $0.13 per share, with a total value of $51,675.00. Following the transaction, the chairman owned 666,300 shares in the company, valued at approximately $86,619. This trade represents a 147.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 40.09% of the company’s stock.

Hyperscale Data Company Profile

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Hyperscale Data, Inc, through its subsidiaries, provides customized solutions for the military markets in North America, Europe, the Middle East, and internationally. It operates through eight segments: Energy and Infrastructure, Technology and Finance, SMC, Sentinum, GIGA, TurnOnGreen, ROI, and Ault Disruptive. The company offers lifting services; virtual markets, real world goods marketplaces, gaming, sweepstakes gaming, contest of skill, and building private spaces, as well as socialization and connectivity and real and virtual concerts.