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

Gryphon Digital Mining, Inc. (NASDAQ:GRYP)’s stock price fell 1.3% during 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.

Analyst Ratings Changes

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

Gryphon Digital Mining Stock Down 1.3 %

The stock has a fifty day moving average price of $0.58 and a two-hundred day moving average price of $0.96.

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

Institutional Inflows and Outflows

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

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.