Gryphon Digital Mining (NASDAQ:GRYP) Shares Down 1.3% – Here’s Why

Gryphon Digital Mining, Inc. (NASDAQ:GRYP)’s share price fell 1.3% during mid-day trading on Thursday . The stock traded as low as $0.62 and last traded at $0.65. 1,104,945 shares were traded during trading, an increase of 210% from the average session volume of 356,043 shares. The stock had previously closed at $0.66.

Analysts Set New Price Targets

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

Gryphon Digital Mining Trading Down 3.5 %

The business’s 50-day moving average price is $0.58 and its two-hundred day moving average price is $0.96.

Gryphon Digital Mining (NASDAQ:GRYP) last posted 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 the consensus estimate of $5.50 million. During the same quarter in the prior year, the firm posted ($10.40) earnings per share. On average, research analysts anticipate that Gryphon Digital Mining, Inc. will post -0.76 EPS for the current year.

Hedge Funds Weigh In On Gryphon Digital Mining

Several institutional investors and hedge funds have recently modified their holdings of the business. Murchinson Ltd. bought a new position in Gryphon Digital Mining in the first quarter valued at approximately $1,175,000. SVB Wealth LLC bought a new stake in shares of Gryphon Digital Mining during the first quarter worth $68,000. K2 Principal Fund L.P. acquired a new stake in shares of Gryphon Digital Mining during the first quarter worth $971,000. Finally, MMCAP International Inc. SPC bought a new stake in Gryphon Digital Mining in the 1st quarter valued at $877,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.