The stock price of Gryphon Digital Mining Inc. (NASDAQ: GRYP) has surged by 3.61 when compared to previous closing price of 1.11, but the company has seen a 0.89% gain in its stock price over the last five trading sessions. accesswire.com reported 2024-06-05 that Machine Upgrades Set New Company Record in Energy Efficiency LAS VEGAS, NV / ACCESSWIRE / June 5, 2024 / Gryphon Digital Mining, Inc. (Nasdaq:GRYP) (“Gryphon” or the “Company”), a bitcoin mining company that is independently certified to be 100% renewable and pursuing a negative carbon strategy, has released its unaudited operational update for May 2024. Key highlights for the month: Set a new company record in energy efficiency of 28.6 joules per terahash (“J/T”) Produced approximately 22 bitcoin Approximately $1.4 million in value based on an average May bitcoin price of $65,071 Achieved bitcoin efficiency of 24 BTC/EH Self-mining hashing power of 904 PH/s 98% average up time on mining fleet Qualified for inclusion in the Russell Microcap Index, effective at the open of US equity markets on July 1st Scope 1 and Scope 2[1] operations continue to be 100% electrified by zero-carbon emitting Hydro power “May marked a pivotal moment for Gryphon as we reaped the rewards of our strategic investment in cutting-edge Bitmain S21 200 TH/s machines,” noted Rob Chang, CEO of Gryphon.
Is It Worth Investing in Gryphon Digital Mining Inc. (NASDAQ: GRYP) Right Now?
GRYP has 36-month beta value of 2.45. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for GRYP is 24.78M, and currently, short sellers hold a 0.69% ratio of that float. The average trading volume of GRYP on June 28, 2024 was 417.21K shares.
GRYP’s Market Performance
GRYP’s stock has seen a 0.89% increase for the week, with a -6.50% drop in the past month and a -22.81% fall in the past quarter. The volatility ratio for the week is 8.06%, and the volatility levels for the past 30 days are at 9.14% for Gryphon Digital Mining Inc. The simple moving average for the last 20 days is -7.36% for GRYP stock, with a simple moving average of -69.83% for the last 200 days.
Analysts’ Opinion of GRYP
Many brokerage firms have already submitted their reports for GRYP stocks, with Lake Street repeating the rating for GRYP by listing it as a “Buy.” The predicted price for GRYP in the upcoming period, according to Lake Street is $8 based on the research report published on July 23, 2021 of the previous year 2021.
Alliance Global Partners, on the other hand, stated in their research note that they expect to see GRYP reach a price target of $18. The rating they have provided for GRYP stocks is “Buy” according to the report published on December 19th, 2019.
GRYP Trading at -17.54% from the 50-Day Moving Average
After a stumble in the market that brought GRYP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -92.31% of loss for the given period.
Volatility was left at 9.14%, however, over the last 30 days, the volatility rate increased by 8.06%, as shares sank -5.69% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -14.07% lower at present.
During the last 5 trading sessions, GRYP rose by +1.75%, which changed the moving average for the period of 200-days by -82.94% in comparison to the 20-day moving average, which settled at $1.2380. In addition, Gryphon Digital Mining Inc. saw -86.78% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GRYP starting from Salzman Simeon, who sale 55,595 shares at the price of $1.19 back on Jun 21 ’24. After this action, Salzman Simeon now owns 169,423 shares of Gryphon Digital Mining Inc., valued at $66,158 using the latest closing price.
GUTTERMAN STEVEN D., the Director of Gryphon Digital Mining Inc., sale 14,035 shares at $1.26 during a trade that took place back on Apr 04 ’24, which means that GUTTERMAN STEVEN D. is holding 14,035 shares at $17,684 based on the most recent closing price.
Stock Fundamentals for GRYP
Equity return is now at value -366.90, with -84.65 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 0.23.
Conclusion
To put it simply, Gryphon Digital Mining Inc. (GRYP) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
