Short Interest in Gryphon Digital Mining, Inc. (NASDAQ:GRYP) Expands By 150.9%

Key Points

• Gryphon Digital Mining, Inc. (NASDAQ:GRYP) saw a significant increase in short interest, rising by 150.9% in July, totaling 5.82 million shares.
• The company's stock price decreased by 2.8% recently, with current trading around $1.05, amid a 52-week range of $0.13 to $2.93.
• Insider transactions indicate a 43.28% decrease in Director Daniel George Tolhurst's holdings following the sale of 474,339 shares at an average price of $1.30.

Gryphon Digital Mining, Inc. (NASDAQ:GRYP - Get Free Report) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 5,820,000 shares, anincreaseof150.9% from the June 30th total of 2,320,000 shares. Based on an average daily trading volume, of 15,910,000 shares, the days-to-cover ratio is currently 0.4 days. Currently,12.7% of the company's shares are short sold. Currently,12.7% of the company's shares are short sold. Based on an average daily trading volume, of 15,910,000 shares, the days-to-cover ratio is currently 0.4 days.

Insider Activity at Gryphon Digital Mining

In other news, Director Daniel George Tolhurst sold 474,339 shares of Gryphon Digital Mining stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $1.30, for a total transaction of $616,640.70. Following the transaction, the director directly owned 621,644 shares of the company's stock, valued at $808,137.20. This trade represents a 43.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders have sold 2,792,968 shares of company stock worth $3,941,214. 15.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GRYP. EWA LLC purchased a new position in Gryphon Digital Mining during the 2nd quarter worth approximately $29,000. Murchinson Ltd. grew its position in shares of Gryphon Digital Mining by 271.4% in the first quarter. Murchinson Ltd. now owns 2,403,988 shares of the company's stock valued at $409,000 after purchasing an additional 1,756,649 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Gryphon Digital Mining during the 1st quarter worth approximately $66,000. Institutional investors and hedge funds own 10.21% of the company's stock.

Analysts Set New Price Targets

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

Gryphon Digital Mining Stock Down 5.5%

Shares of GRYP traded down $0.07 during mid-day trading on Thursday, hitting $1.13. 4,036,471 shares of the company's stock traded hands, compared to its average volume of 8,322,872. Gryphon Digital Mining has a 1 year low of $0.13 and a 1 year high of $2.93. The business's 50-day moving average price is $1.11 and its 200-day moving average price is $0.64. The firm has a market capitalization of $92.40 million, a P/E ratio of -4.17 and a beta of 3.87.

Gryphon Digital Mining (NASDAQ:GRYP - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported ($0.09) earnings per share (EPS) for the quarter. Sell-side analysts anticipate that Gryphon Digital Mining will post -0.76 earnings per share for the current fiscal 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.