Gryphon Digital Mining, Inc. (NASDAQ:GRYP) Short Interest Up 609.1% in October

Gryphon Digital Mining, Inc. (NASDAQ:GRYP) was the target of a significant 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. Currently, 1.0% of the shares of the company are sold short. Based on an average daily volume of 430,700 shares, the short-interest ratio is currently 0.6 days.

Institutional Trading of Gryphon Digital Mining

A number of large investors have recently made changes to their positions in GRYP. SVB Wealth LLC purchased a new position in Gryphon Digital Mining during the 1st quarter worth $68,000. MMCAP International Inc. SPC acquired a new stake in Gryphon Digital Mining in the 1st quarter valued at about $877,000. K2 Principal Fund L.P. purchased a new position in Gryphon Digital Mining during the 1st quarter valued at about $971,000. Finally, Murchinson Ltd. acquired a new position in Gryphon Digital Mining during the first quarter worth about $1,175,000. 10.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Gryphon Digital Mining Price Performance

Shares of Gryphon Digital Mining stock traded down $0.09 during mid-day trading on Thursday, reaching $0.67. 1,816,680 shares of the stock traded hands, compared to its average volume of 397,163. Gryphon Digital Mining has a fifty-two week low of $0.38 and a fifty-two week high of $10.30. The business has a 50-day moving average of $0.59 and a 200 day moving average of $0.94.

Gryphon Digital Mining (NASDAQ:GRYP) last released its quarterly earnings data on Thursday, August 15th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. The business had revenue of $5.52 million during the quarter, compared to analyst estimates of $5.50 million. During the same quarter in the previous year, the company posted ($10.40) EPS. As a group, analysts predict that Gryphon Digital Mining will post -0.76 EPS 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.