Gryphon Digital Mining, Inc. (NASDAQ:GRYP) Sees Large Increase in Short Interest

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. Currently, 9.8% of the shares of the company are sold short. Based on an average daily trading volume, of 10,850,000 shares, the days-to-cover ratio is currently 0.5 days.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Daniel George Tolhurst sold 329,257 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $1.34, for a total value of $441,204.38. Following the transaction, the director now directly owns 3,077,216 shares of the company's stock, valued at approximately $4,123,469.44. The trade was a 9.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 2,792,968 shares of company stock valued at $3,941,214. 11.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Gryphon Digital Mining

A hedge fund recently bought a new stake in Gryphon Digital Mining stock. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Gryphon Digital Mining, Inc. (NASDAQ:GRYP - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 390,724 shares of the company's stock, valued at approximately $66,000. Cambridge Investment Research Advisors Inc. owned 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 Stock Performance

NASDAQ GRYP traded down $0.04 during trading on Friday, hitting $0.95. 7,238,221 shares of the company's stock traded hands, compared to its average volume of 3,818,813. The stock has a market capitalization of $68.86 million, a price-to-earnings ratio of -3.52 and a beta of 2.31. Gryphon Digital Mining has a 12-month low of $0.13 and a 12-month high of $2.93. The business has a 50 day moving average of $0.51 and a 200-day moving average of $0.44.

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

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.