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

Gryphon Digital Mining, Inc. (NASDAQ:GRYP) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totalling 80,800 shares, a decline of 58.9% from the August 31st total of 196,800 shares. Based on an average daily volume of 267,200 shares, the short-interest ratio is currently 0.3 days. Currently, 0.3% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Gryphon Digital Mining Stock Down 1.7 %

NASDAQ GRYP traded down $0.01 during trading hours on Wednesday, hitting $0.56. 34,686 shares of the company’s stock traded hands, compared to its average volume of 327,235. Gryphon Digital Mining has a 52-week low of $0.38 and a 52-week high of $10.30. The firm’s 50-day moving average is $0.72 and its 200-day moving average is $1.15.

Gryphon Digital Mining (NASDAQ:GRYP) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.08. The business had revenue of $5.52 million for the quarter, compared to analysts’ expectations of $5.50 million. During the same period in the prior year, the company posted ($10.40) EPS. As a group, sell-side analysts predict that Gryphon Digital Mining will post -0.76 EPS for the current fiscal year.

Institutional Trading of Gryphon Digital Mining

Several large investors have recently bought and sold shares of the business. SVB Wealth LLC purchased a new stake in shares of Gryphon Digital Mining in the 1st quarter valued at approximately $68,000. MMCAP International Inc. SPC purchased a new stake in shares of Gryphon Digital Mining in the 1st quarter valued at approximately $877,000. K2 Principal Fund L.P. purchased a new stake in shares of Gryphon Digital Mining in the 1st quarter valued at approximately $971,000. Finally, Murchinson Ltd. purchased a new stake in shares of Gryphon Digital Mining in the 1st quarter valued at approximately $1,175,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

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.