Gryphon Digital Mining (NASDAQ:GRYP) Stock Price Up 15%

Shares of Gryphon Digital Mining, Inc. (NASDAQ:GRYP) rose 15% on Friday . The company traded as high as $0.57 and last traded at $0.52. Approximately 363,845 shares traded hands during trading, an increase of 9% from the average daily volume of 334,101 shares. The stock had previously closed at $0.45.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “neutral” rating on shares of Gryphon Digital Mining in a research note on Friday, August 23rd.

Gryphon Digital Mining Stock Up 15.0 %

The company’s 50 day simple moving average is $0.80 and its 200 day simple moving average is $1.25.

Gryphon Digital Mining (NASDAQ:GRYP) last issued its quarterly 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 company had revenue of $5.52 million for the quarter, compared to analyst estimates of $5.50 million. During the same period in the prior year, the business earned ($10.40) earnings per share. As a group, equities research analysts anticipate that Gryphon Digital Mining, Inc. will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Simeon Salzman sold 55,595 shares of Gryphon Digital Mining stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $1.19, for a total transaction of $66,158.05. Following the completion of the sale, the chief financial officer now owns 169,423 shares in the company, valued at approximately $201,613.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gryphon Digital Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. SVB Wealth LLC bought a new position in Gryphon Digital Mining during the 1st quarter worth $68,000. MMCAP International Inc. SPC acquired a new stake in shares of Gryphon Digital Mining in the first quarter valued at $877,000. K2 Principal Fund L.P. acquired a new stake in shares of Gryphon Digital Mining in the first quarter valued at $971,000. Finally, Murchinson Ltd. acquired a new stake in shares of 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.