Gryphon Digital Mining, Inc. (NASDAQ:GRYP) Short Interest Up 538.4% in May

Gryphon Digital Mining, Inc. (NASDAQ:GRYP - Get Free Report) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 5,030,000 shares, a growth of 538.4% from the April 30th total of 787,900 shares. Approximately 9.8% of the shares of the company are sold short. Based on an average daily volume of 10,850,000 shares, the days-to-cover ratio is currently 0.5 days.

Insider Buying and Selling at Gryphon Digital Mining

In other Gryphon Digital Mining news, Director Daniel George Tolhurst sold 474,339 shares of Gryphon Digital Mining stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $1.30, for a total value of $616,640.70. Following the transaction, the director now directly owns 621,644 shares in the company, valued at approximately $808,137.20. This trade represents a 43.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 2,792,968 shares of company stock worth $3,941,214. 11.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gryphon Digital Mining

An institutional investor recently raised its position in Gryphon Digital Mining stock. Murchinson Ltd. increased its holdings in Gryphon Digital Mining, Inc. (NASDAQ:GRYP - Free Report) by 271.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,403,988 shares of the company's stock after purchasing an additional 1,756,649 shares during the period. Murchinson Ltd. owned 3.47% of Gryphon Digital Mining worth $409,000 as of its most recent SEC filing. 10.21% of the stock is currently owned by institutional investors and hedge funds.

Gryphon Digital Mining Trading Down 10.8%

Shares of NASDAQ GRYP traded down $0.13 during trading on Monday, reaching $1.07. The company had a trading volume of 2,839,695 shares, compared to its average volume of 3,829,209. Gryphon Digital Mining has a twelve month low of $0.13 and a twelve month high of $2.93. The stock has a market capitalization of $77.64 million, a PE ratio of -3.96 and a beta of 2.31. The stock has a 50-day moving average price of $0.52 and a two-hundred day moving average price of $0.44.

Gryphon Digital Mining (NASDAQ:GRYP - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.09) earnings per share for the quarter. On average, sell-side analysts predict that Gryphon Digital Mining will post -0.76 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright restated a "neutral" rating on shares of Gryphon Digital Mining in a research note on Tuesday, May 13th.

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.