Short Interest in Gryphon Digital Mining, Inc. (NASDAQ:GRYP) Declines By 28.0%

Gryphon Digital Mining, Inc. (NASDAQ:GRYP - Get Free Report) was the target of a significant drop in short interest in May. As of May 31st, there was short interest totalling 3,620,000 shares, a drop of 28.0% from the May 15th total of 5,030,000 shares. Based on an average daily volume of 11,580,000 shares, the short-interest ratio is currently 0.3 days. Approximately 6.6% of the company's stock are sold short.

Insider Buying and Selling at Gryphon Digital Mining

In other news, Director Daniel George Tolhurst sold 474,339 shares of Gryphon Digital Mining stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $1.30, for a total value of $616,640.70. Following the completion of the transaction, the director now owns 621,644 shares of the company's stock, valued at $808,137.20. The trade was a 43.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 2,792,968 shares of company stock valued at $3,941,214. Corporate insiders own 15.00% of the company's stock.

Institutional Trading of Gryphon Digital Mining

A hedge fund recently bought a new stake in Gryphon Digital Mining stock. Cambridge Investment Research Advisors Inc. purchased a new position in Gryphon Digital Mining, Inc. (NASDAQ:GRYP - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter. 10.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Gryphon Digital Mining Trading Down 7.7%

GRYP stock opened at $0.92 on Wednesday. The stock's 50 day simple moving average is $0.72 and its 200 day simple moving average is $0.48. Gryphon Digital Mining has a 12-month low of $0.13 and a 12-month high of $2.93. The stock has a market capitalization of $66.95 million, a PE ratio of -3.42 and a beta of 3.83.

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

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.

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