Gryphon Digital Mining (NASDAQ:GRYP) Stock Price Up 9.4% - What's Next?

Key Points

• Gryphon Digital Mining's stock rose by 9.4%, closing at $1.40 after trading as high as $1.42, with a notable increase in trading volume of 34% compared to its average.
• The company has a market capitalization of $115.92 million and is projected to report an EPS of -0.76 for the current fiscal year.
• Analyst ratings for Gryphon Digital Mining remain cautious, with the stock receiving a "neutral" rating from HC Wainwright and a consensus rating of "Hold."

Shares of Gryphon Digital Mining, Inc. (NASDAQ:GRYP - Get Free Report) rose 9.4% during mid-day trading on Monday . The stock traded as high as $1.42 and last traded at $1.40. Approximately 6,212,857 shares changed hands during trading, an increase of 34% from the average daily volume of 4,625,668 shares. The stock had previously closed at $1.28.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a "neutral" rating on shares of Gryphon Digital Mining in a research note on Tuesday, May 13th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Gryphon Digital Mining has an average rating of "Hold".

Gryphon Digital Mining Stock Down 10.5%

The business's 50 day moving average is $1.21 and its two-hundred day moving average is $0.76. The firm has a market cap of $127.51 million, a P/E ratio of -6.42 and a beta of 4.02.

Gryphon Digital Mining (NASDAQ:GRYP - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter. The company had revenue of $1.38 million for the quarter. Equities 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

Hedge funds have recently bought and sold shares of the company. EWA LLC acquired a new stake in Gryphon Digital Mining in the second quarter worth $29,000. Tidal Investments LLC acquired a new stake in Gryphon Digital Mining in the second quarter worth $87,000. Moore Capital Management LP acquired a new stake in Gryphon Digital Mining in the second quarter worth $88,000. HUB Investment Partners LLC acquired a new stake in Gryphon Digital Mining in the second quarter worth $114,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Gryphon Digital Mining in the first quarter worth $66,000. 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.