Mynd.ai (OTCMKTS:MYND) Trading 5.8% Higher – What’s Next?

Mynd.ai, Inc. (OTCMKTS:MYND)’s stock price traded up 5.8% during mid-day trading on Monday . The stock traded as high as C$1.17 and last traded at C$1.09. 39,759 shares traded hands during trading, a decline of 21% from the average session volume of 50,366 shares. The stock had previously closed at C$1.03.

Mynd.ai Stock Performance

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 stock’s 50 day simple moving average is C$1.83 and its two-hundred day simple moving average is C$1.69.

Mynd.ai declared that its board has initiated a stock repurchase program on Monday, October 21st that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Mynd.ai

An institutional investor recently raised its position in Mynd.ai stock. Renaissance Technologies LLC grew its holdings in Mynd.ai, Inc. (OTCMKTS:MYND) by 42.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,544 shares of the company’s stock after purchasing an additional 7,000 shares during the quarter. Renaissance Technologies LLC owned about 0.05% of Mynd.ai worth $65,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 64.60% of the company’s stock.

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.