Gryphon Digital Mining (NASDAQ:GRYP) Research Coverage Started at HC Wainwright

HC Wainwright assumed coverage on shares of Gryphon Digital Mining (NASDAQ:GRYP) in a report issued on Tuesday morning, Marketbeat reports. The brokerage issued a neutral rating on the stock. HC Wainwright also issued estimates for Gryphon Digital Mining’s Q2 2024 earnings at ($0.18) EPS, Q3 2024 earnings at ($0.22) EPS, Q4 2024 earnings at ($0.22) EPS and FY2024 earnings at ($0.98) EPS.

Gryphon Digital Mining Stock Down 2.2 %

NASDAQ:GRYP opened at $0.86 on Tuesday. The company’s 50-day simple moving average is $1.16. Gryphon Digital Mining has a twelve month low of $0.85 and a twelve month high of $11.00.

Gryphon Digital Mining (NASDAQ:GRYP) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.36) earnings per share (EPS) for the quarter. The company had revenue of $7.49 million during the quarter. On average, research analysts forecast that Gryphon Digital Mining will post -0.98 EPS for the current year.

Insider Activity at Gryphon Digital Mining

In other news, CFO Simeon Salzman sold 55,595 shares of Gryphon Digital Mining stock in a transaction dated Friday, June 21st. The shares were 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 directly owns 169,423 shares in the company, valued at $201,613.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Gryphon Digital Mining

Several hedge funds have recently made changes to their positions in the business. Murchinson Ltd. acquired a new position in Gryphon Digital Mining in the first quarter valued at $1,175,000. SVB Wealth LLC purchased a new stake in Gryphon Digital Mining in the 1st quarter valued at about $68,000. K2 Principal Fund L.P. purchased a new stake in Gryphon Digital Mining in the 1st quarter valued at about $971,000. Finally, MMCAP International Inc. SPC acquired a new position in shares of Gryphon Digital Mining during the 1st quarter valued at about $877,000. Institutional investors and hedge funds 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.