Gryphon Digital Mining, Inc. (NASDAQ:GRYP) Sees Significant Decline in Short Interest

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

Insiders Place Their Bets

In other Gryphon Digital Mining news, Director Daniel George Tolhurst sold 329,257 shares of Gryphon Digital Mining stock in a transaction that occurred on Friday, May 16th. The stock was 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 $4,123,469.44. The trade was a 9.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 2,792,968 shares of company stock valued at $3,941,214 in the last ninety days. Company insiders own 15.00% of the company's stock.

Hedge Funds Weigh In On Gryphon Digital Mining

A hedge fund recently raised its stake in Gryphon Digital Mining stock. Murchinson Ltd. increased its position in Gryphon Digital Mining, Inc. (NASDAQ:GRYP - Free Report) by 271.4% during the 1st 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 at the end of the most recent reporting period. Institutional investors own 10.21% of the company's stock.

Wall Street Analyst Weigh In

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

Gryphon Digital Mining Stock Up 0.3%

Shares of GRYP traded up $0.00 during mid-day trading on Friday, hitting $0.86. 3,838,651 shares of the company's stock traded hands, compared to its average volume of 4,069,385. Gryphon Digital Mining has a 1 year low of $0.13 and a 1 year high of $2.93. The firm has a market capitalization of $62.08 million, a P/E ratio of -3.17 and a beta of 3.83. The business's 50-day moving average price is $0.77 and its 200-day moving average price is $0.48.

Gryphon Digital Mining (NASDAQ:GRYP - Get Free Report) last posted 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.