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

Gryphon Digital Mining, Inc. (NASDAQ:GRYP) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 256,700 shares, a growth of 609.1% from the October 15th total of 36,200 shares. Based on an average daily volume of 430,700 shares, the short-interest ratio is presently 0.6 days. Approximately 1.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Gryphon Digital Mining

Several hedge funds and other institutional investors have recently bought and sold shares of GRYP. Murchinson Ltd. bought a new position in shares of Gryphon Digital Mining during the first quarter valued at approximately $1,175,000. K2 Principal Fund L.P. bought a new position in Gryphon Digital Mining in the 1st quarter worth $971,000. MMCAP International Inc. SPC acquired a new position in Gryphon Digital Mining in the 1st quarter valued at approximately $877,000. Finally, SVB Wealth LLC bought a new stake in Gryphon Digital Mining in the first quarter valued at $68,000. 10.21% of the stock is owned by institutional investors and hedge funds.

Gryphon Digital Mining Trading Down 3.5 %

Shares of NASDAQ:GRYP traded down $0.03 during trading hours on Tuesday, hitting $0.83. The company’s stock had a trading volume of 1,835,941 shares, compared to its average volume of 375,696. Gryphon Digital Mining has a 52 week low of $0.38 and a 52 week high of $10.30. The firm’s fifty day moving average price is $0.58 and its 200 day moving average price is $0.95.

Gryphon Digital Mining (NASDAQ:GRYP) last issued its earnings results on Thursday, August 15th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.08. The firm had revenue of $5.52 million for the quarter, compared to analysts’ expectations of $5.50 million. During the same period last year, the firm earned ($10.40) earnings per share. Equities analysts anticipate that Gryphon Digital Mining will post -0.76 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright restated a “neutral” rating on shares of Gryphon Digital Mining in a research note on Friday, September 20th.

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.