Gryphon Digital Mining (NASDAQ:GRYP) Trading Up 15%

Gryphon Digital Mining, Inc. (NASDAQ:GRYP)’s stock price was up 15% on Friday . The company traded as high as $0.57 and last traded at $0.52. Approximately 363,845 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 334,101 shares. The stock had previously closed at $0.45.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “neutral” rating on shares of Gryphon Digital Mining in a research note on Friday, August 23rd.

Gryphon Digital Mining Stock Performance

The firm has a fifty day moving average price of $0.80 and a 200 day moving average price of $1.24.

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

Insider Activity

In other Gryphon Digital Mining news, CFO Simeon Salzman sold 55,595 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $1.19, for a total transaction of $66,158.05. Following the completion of the sale, the chief financial officer now directly owns 169,423 shares of the company’s stock, valued at approximately $201,613.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Gryphon Digital Mining

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

About Gryphon Digital Mining

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.