Hyperscale Data (NYSEAMERICAN:GPUS) Authorizes Share Repurchase Program

Hyperscale Data (NYSEAMERICAN:GPUS) announced that its board has approved a stock repurchase plan on Tuesday, May 26th, RTT News reports. The company plans to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Hyperscale Data Stock Performance

Shares of GPUS stock traded up $0.01 during trading hours on Tuesday, hitting $0.17. The company’s stock had a trading volume of 109,355,563 shares, compared to its average volume of 31,817,574. The company has a 50 day moving average of $0.15 and a 200 day moving average of $0.21. The company has a quick ratio of 0.50, a current ratio of 0.53 and a debt-to-equity ratio of 0.14. Hyperscale Data has a 12-month low of $0.11 and a 12-month high of $7.00.

Insider Activity at Hyperscale Data

In other Hyperscale Data news, Chairman Milton C. Ault III acquired 397,500 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $0.13 per share, with a total value of $51,675.00. Following the acquisition, the chairman directly owned 666,300 shares of the company’s stock, valued at approximately $86,619. The trade was a 147.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 40.09% of the stock is owned by company insiders.

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.