Gryphon Digital Mining Inc. (NASDAQ: GRYP): Stock Forecast For 2024 Sees A A Decline Of -87.78%

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In the last trading session, 1.53 million shares of the Gryphon Digital Mining Inc. (NASDAQ:GRYP) were traded, and its beta was 2.46. Most recently the company’s share price was $0.75, and it changed around $0.04 or 5.22% from the last close, which brings the market valuation of the company to $30.24M. GRYP currently trades at a discount to its 52-week high of $10.30, offering almost -1273.33% off that amount. The share price’s 52-week low was $0.38, which indicates that the current value has risen by an impressive 49.33% since then. We note from Gryphon Digital Mining Inc.’s average daily trading volume that its 10-day average is 0.71 million shares, with the 3-month average coming to 300.58K.

Gryphon Digital Mining Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 3.00. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended GRYP as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Gryphon Digital Mining Inc. is expected to report earnings per share of -0.16 for the current quarter.

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Gryphon Digital Mining Inc. (NASDAQ:GRYP) trade information

Instantly GRYP has showed a green trend with a performance of 5.22% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 0.7944 on recent trading dayincreased the stock’s daily price by 5.59%. The company’s shares are currently down -91.40% year-to-date, but still up 18.73% over the last five days. On the other hand, Gryphon Digital Mining Inc. (NASDAQ:GRYP) is 9.77% up in the 30-day period. We can see from the shorts that 36200.0 shares have been sold at a short interest cover period of 0.17 day(s).

Gryphon Digital Mining Inc. (GRYP) estimates and forecasts

Gryphon Digital Mining Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -48.41 percent over the past six months and at a 96.72% annual growth rate that is well above the industry average of 10.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 99.90% in revenue this quarter, and will report an increase of 98.50% in the next quarter. The year-over-year growth rate is expected to be 205.70%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of 3.9M in revenue for the current quarter. 1 analysts expect Gryphon Digital Mining Inc. to make 3.9M in revenue for the current ending quarter. Analysts predict that the company’s current quarter sales will jump, forecast at 87.20%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -72.98%.

GRYP Dividends

Gryphon Digital Mining Inc.’s next quarterly earnings report is expected to be released in November.