Gryphon Digital Mining (NASDAQ:GRYP) Stock Price Up 9.4% - Time to Buy?

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) were up 9.4% during mid-day trading on Monday . The company 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.

Analysts Set New Price Targets

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

Gryphon Digital Mining Stock Up 42.1%

The company's 50 day moving average is $1.20 and its 200-day moving average is $0.74.

Gryphon Digital Mining (NASDAQ:GRYP - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter. The company had revenue of $1.38 million for the quarter. Equities analysts predict that Gryphon Digital Mining, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gryphon Digital Mining

Several hedge funds have recently bought and sold shares of GRYP. EWA LLC acquired a new stake in Gryphon Digital Mining in the 2nd quarter valued at about $29,000. Cambridge Investment Research Advisors Inc. bought a new position in Gryphon Digital Mining in the 1st quarter valued at about $66,000. Tidal Investments LLC bought a new position in Gryphon Digital Mining in the 2nd quarter valued at about $87,000. Moore Capital Management LP bought a new position in Gryphon Digital Mining in the 2nd quarter valued at about $88,000. Finally, HUB Investment Partners LLC bought a new position in Gryphon Digital Mining in the 2nd quarter valued at about $114,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.