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Gryphon Digital Mining (NASDAQ:GRYP) Shares Down 5.1% - Here's What Happened

Gryphon Digital Mining logo with Finance background

Gryphon Digital Mining, Inc. (NASDAQ:GRYP - Get Free Report) dropped 5.1% on Wednesday . The stock traded as low as $1.25 and last traded at $1.31. Approximately 9,143,791 shares traded hands during trading, an increase of 89% from the average daily volume of 4,835,867 shares. The stock had previously closed at $1.38.

Analyst Ratings Changes

Separately, HC Wainwright restated a "neutral" rating on shares of Gryphon Digital Mining in a report on Tuesday, May 13th.

Check Out Our Latest Report on GRYP

Gryphon Digital Mining Stock Performance

The stock has a market cap of $106.66 million, a PE ratio of -5.44 and a beta of 3.73. The stock has a fifty day moving average price of $1.01 and a 200 day moving average price of $0.53.

Gryphon Digital Mining (NASDAQ:GRYP - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.09) EPS for the quarter. As a group, equities analysts anticipate that Gryphon Digital Mining, Inc. will post -0.76 earnings per share for the current fiscal year.

Insider Activity at Gryphon Digital Mining

In other news, Director Daniel George Tolhurst sold 1,981,233 shares of Gryphon Digital Mining stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $1.45, for a total value of $2,872,787.85. Following the completion of the transaction, the director owned 1,095,983 shares in the company, valued at approximately $1,589,175.35. The trade was a 64.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 2,792,968 shares of company stock valued at $3,941,214. 15.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gryphon Digital Mining

A hedge fund recently bought a new stake in Gryphon Digital Mining stock. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Gryphon Digital Mining, Inc. (NASDAQ:GRYP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 390,724 shares of the company's stock, valued at approximately $66,000. Cambridge Investment Research Advisors Inc. owned 0.56% of Gryphon Digital Mining as of its most recent SEC filing. 10.21% of the stock is currently owned by institutional investors and hedge funds.

About Gryphon Digital Mining

(Get Free Report)

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.

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