Gryphon Digital Mining (NASDAQ:GRYP) Trading 15.8% Higher – Here’s Why

Gryphon Digital Mining, Inc. (NASDAQ:GRYP) traded up 15.8% on Wednesday . The stock traded as high as $0.68 and last traded at $0.65. 682,668 shares traded hands during trading, an increase of 111% from the average session volume of 322,987 shares. The stock had previously closed at $0.57.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “neutral” rating on shares of Gryphon Digital Mining in a research report on Friday, September 20th.

Gryphon Digital Mining Stock Performance

The firm has a 50-day moving average price of $0.62 and a two-hundred day moving average price of $1.05.

Gryphon Digital Mining (NASDAQ:GRYP) last issued its earnings results on Thursday, August 15th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.08. The business had revenue of $5.52 million for the quarter, compared to analyst estimates of $5.50 million. During the same period last year, the business posted ($10.40) EPS. Research analysts forecast that Gryphon Digital Mining, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in Gryphon Digital Mining during the first quarter worth approximately $68,000. Murchinson Ltd. purchased a new position in shares of Gryphon Digital Mining in the 1st quarter valued at approximately $1,175,000. K2 Principal Fund L.P. purchased a new position in shares of Gryphon Digital Mining in the 1st quarter valued at approximately $971,000. Finally, MMCAP International Inc. SPC purchased a new position in shares of Gryphon Digital Mining in the 1st quarter valued at approximately $877,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

Gryphon Digital Mining Company Profile

Gryphon Digital Mining, Inc operates as a bitcoin mining company in the United States. It operates mining computers and ESG-led mining. The company was founded in 2020 and is based in Las Vegas, Nevada.