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

Gryphon Digital Mining, Inc. (NASDAQ:GRYP) was the target of a large 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 days-to-cover ratio is currently 0.3 days. Approximately 6.6% of the company’s stock are sold short.

Insider Activity

In other news, Director Daniel George Tolhurst sold 329,257 shares of the stock in a transaction dated 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 owns 3,077,216 shares in the company, valued at approximately $4,123,469.44. This represents a 9.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 2,792,968 shares of company stock worth $3,941,214. 15.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gryphon Digital Mining

An institutional investor recently raised its position in Gryphon Digital Mining stock. Murchinson Ltd. boosted its position in Gryphon Digital Mining, Inc. (NASDAQ:GRYP) by 271.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,403,988 shares of the company’s stock after purchasing an additional 1,756,649 shares during the quarter. Murchinson Ltd. owned about 3.47% of Gryphon Digital Mining worth $409,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Gryphon Digital Mining Stock Down 7.6%

Shares of GRYP stock opened at $0.85 on Friday. Gryphon Digital Mining has a 52-week low of $0.13 and a 52-week high of $2.93. The stock’s 50-day moving average price is $0.75 and its 200 day moving average price is $0.48. The stock has a market capitalization of $61.89 million, a PE ratio of -3.16 and a beta of 3.83.

Gryphon Digital Mining (NASDAQ:GRYP) last issued its earnings results on Thursday, May 15th. The company reported ($0.09) earnings per share for the quarter. Analysts expect that Gryphon Digital Mining will post -0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “neutral” rating on shares of Gryphon Digital Mining in a research report on Tuesday, May 13th.

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.