Mynd.ai (OTCMKTS:MYND) Shares Up 2.1% – Here’s Why

Mynd.ai, Inc. (OTCMKTS:MYND) shot up 2.1% during trading on Monday . The stock traded as high as C$1.52 and last traded at C$1.48. 105,784 shares were traded during trading, an increase of 138% from the average session volume of 44,517 shares. The stock had previously closed at C$1.45.

Mynd.ai Stock Up 5.1 %

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.00 and a current ratio of 1.22. The firm has a 50 day moving average of C$1.25 and a 200 day moving average of C$2.07.

Mynd.ai announced that its Board of Directors has approved a share buyback plan on Monday, October 21st that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Mynd.ai

A hedge fund recently bought a new stake in Mynd.ai stock. Glynn Capital Management LLC bought a new stake in shares of Mynd.ai, Inc. (OTCMKTS:MYND) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 46,986 shares of the company’s stock, valued at approximately $130,000. Glynn Capital Management LLC owned about 0.10% of Mynd.ai as of its most recent SEC filing. 64.60% of the stock is owned by institutional investors.

About Mynd.ai

Mynd.ai, Inc operates in interactive technology offering hardware and software solutions. The company's solutions help organizations create and deliver dynamic content; simplify and streamline teaching, learning, and communication; and facilitate real-time collaboration. Its interactive displays and software are available in approximately 1 million learning and training spaces across 126 countries.