Gryphon Digital Mining (NASDAQ:GRYP) Stock Price Down 2.6% – What’s Next?

Gryphon Digital Mining, Inc. (NASDAQ:GRYP) shares dropped 2.6% on Tuesday . The stock traded as low as $1.10 and last traded at $1.14. Approximately 3,615,644 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 3,942,159 shares. The stock had previously closed at $1.17.

Analyst Ratings Changes

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

Gryphon Digital Mining Stock Down 2.6%

The company’s fifty day simple moving average is $0.64 and its two-hundred day simple moving average is $0.46. The company has a market capitalization of $82.72 million, a price-to-earnings ratio of -4.22 and a beta of 3.83.

Gryphon Digital Mining (NASDAQ:GRYP) last posted its earnings results on Thursday, May 15th. The company reported ($0.09) earnings per share for the quarter. Equities research analysts expect that Gryphon Digital Mining, Inc. will post -0.76 earnings per share for the current year.

Insider Transactions at Gryphon Digital Mining

In other news, Director Daniel George Tolhurst sold 329,257 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $1.34, for a total transaction of $441,204.38. Following the completion of the sale, the director now owns 3,077,216 shares of the company’s stock, valued at $4,123,469.44. This represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 2,792,968 shares of company stock valued at $3,941,214 over the last quarter. Corporate insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Gryphon Digital Mining

An institutional investor recently bought a new position in Gryphon Digital Mining stock. Cambridge Investment Research Advisors Inc. acquired a new stake in Gryphon Digital Mining, Inc. (NASDAQ:GRYP) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 390,724 shares of the company’s stock, valued at approximately $66,000. Cambridge Investment Research Advisors Inc. owned about 0.56% of Gryphon Digital Mining as of its most recent SEC filing. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Gryphon Digital Mining Company Profile

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.