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

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

Hedge Funds Weigh In On Gryphon Digital Mining

Institutional investors and hedge funds have recently bought and sold shares of the company. SVB Wealth LLC acquired a new position in Gryphon Digital Mining in the 1st quarter worth about $68,000. MMCAP International Inc. SPC acquired a new stake in shares of Gryphon Digital Mining in the first quarter valued at about $877,000. K2 Principal Fund L.P. acquired a new stake in shares of Gryphon Digital Mining in the first quarter valued at about $971,000. Finally, Murchinson Ltd. acquired a new stake in shares of Gryphon Digital Mining in the first quarter valued at about $1,175,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

Gryphon Digital Mining Price Performance

Shares of GRYP stock traded up $0.01 on Wednesday, hitting $0.84. 1,948,720 shares of the company’s stock were exchanged, compared to its average volume of 382,958. Gryphon Digital Mining has a 12 month low of $0.38 and a 12 month high of $10.30. The company has a 50 day moving average of $0.59 and a 200 day moving average of $0.94.

Gryphon Digital Mining (NASDAQ:GRYP) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.08. The business had revenue of $5.52 million for the quarter, compared to the consensus estimate of $5.50 million. During the same quarter in the prior year, the company earned ($10.40) earnings per share. On average, sell-side analysts forecast that Gryphon Digital Mining will post -0.76 EPS 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 Friday, September 20th.

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.