Grindr Short Interest Rises to 31.0%

Written by Emily J. Thompson, Senior Investment Analyst

GRND+0.08%

LUCK-3.44%

CLSK+5.69%

Updated: Dec 07 2025

0mins

Welcome to this week's installment of "The Short Interest Report" - The Fly's weekly recap of short interest trends among some of the most widely followed high-short-float stocks. Using the data from our partner, which utilizes the latest information from stock lenders to estimate short interest changes for thousands of publicly traded companies, this report will screen for some of biggest changes in short interest as a percentage of free float and days-to-cover ratios while also considering the short interest data on some of the more volatile and heavier-traded names of the week. Based on the availability of data from Ortex, the report tracks the trading period that covers prior Friday through Thursday of this week, excluding holidays. As a basis of comparison for stocks discussed below, the S&P 500 index was up 0.7%, the Nasdaq Composite was up 1.3%, the Russell 2000 index was up 1.8%, the Russell 2000 Growth ETFwas up 2.3%, and the Russell 2000 Value ETFwas up 1.3% in the five-day trading session range through December 4.SHORT INTEREST GAINERSOrtex-reported short interest on Grindrhad collapsed from levels over 100% in October to a trough of about 26% in late November, but with the company's announcement that a take-private proposal from large shareholders Ray Zage and James Lu at $18.00 per share in cash has failed to materialize, bears are rebuilding their exposure. This week, shorts as a percentage of free float jumped from 26.2% to 31.0% while bid-to-cover on the name rose from 3.4 to 4.0 – both marking three-week highs. The stock was up 5.3% in the five-day period covered and has just about closed the gap after the news of a failed deal, though shares are still down 24% year-to-date and off by 46% from early June peak.Ortex-reported short interest on Clean Sparktroughed at 2025 lows of 16.5% in the first week of October, but while the stock reached the year's high just a week later and has since lost nearly half of its value, bears are undeterred and have magnified their positioning. This week, shorts as a percentage of free float on the stock were up for the seventh consecutive week, rising from 32.6% to 34.3% - a four-month high. Exchange-reported short interest has also seen a jump as of the first half of November – spiking from 21% to about 28%. The stock, meanwhile, gained 11.8% in the five-day period covered and has tallied a 51% year-to-date gain, though it is down 36% from October's peak as of Thursday-close, with another 9% in losses coming on Friday.Ortex-reported short interest on Lucky Strike Entertainmenthad fallen from around 70% in early February to a multi-year low of 18% as of the final week of November as the bears thesis materialized to the tune of a 45% downswing over the course of that period. With the stock finding some support over the recent days and no discernable catalysts, bears are selling into strength. This week, shorts as a percentage of free float nudged from 18.3% to 19.9% and days to cover rose from 8.7 to 9.4 as the stock gained 10%. Overall, however, shares of Lucky Strike are still down 15% year-to-date as of Thursday close.SHORT INTEREST DECLINERSOrtex-reported short interest on Core Scientificreached a record high of 34% earlier last week as the stock slipped to a two-and-a-half month low, though with shares finding support and subsequently bouncing 5.5% over the five-day period through Thursday, traders are pondering whether the plunge in the crypto ecosystem may have run its course. Shorts as a percentage of free float on Core Scientific has pulled back from 33.4% to 29.9% this week while 3-month day-to-cover on the name has held steady around 4.0, reflecting the overall pickup in relative trading volume for the majority of October and November.Ortex-reported short interest in HighPeak Enegyhad declined to 2025-lows below 18% in mid-October, then bounced back to 27% through mid-November, but has now fallen for two consecutive weeks. This week, shorts as a percentage of free float compressed from 23.0% to 19.7%, while days-to-cover slipped from 7.3 to 6.3. The stock was down 2.9% in the five-day period through Thursday, though 2025 overall has not been kind to the energy stock exposed to pressure in the oil and natural gas patch – year-to-date, HighPeak is now down 60%, with 8% of losses also coming on Friday.

GRND

$11.99+Infinity%1D

Analyst Views on GRND

Wall Street analysts forecast GRND stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GRND is 22.00 USD with a low forecast of 20.00 USD and a high forecast of 26.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

4 Analyst Rating

4 Buy

0 Hold

0 Sell

Strong Buy

Current: 11.980

Low

20.00

Averages

22.00

High

26.00

Current: 11.980

Low

20.00

Averages

22.00

High

26.00

Citizens JMP

Outperform

maintain

$23 -> $21

2025-11-10

Reason

Citizens JMP

Price Target

$23 -> $21

AI Analysis

2025-11-10

maintain

Outperform

Reason

Citizens JMP lowered the firm's price target on Grindr to $21 from $23 and keeps an Outperform rating on the shares. Grindr reported better-than-expected Q3 results with revenue coming in 2% above consensus while EBITDA came in 11% above consensus, the analyst tells investors in a research note. Citizens believes Grindr has a path to 20%+ growth in 2026 and 2027.

Goldman Sachs

Buy

downgrade

$22 -> $20

2025-11-07

Reason

Goldman Sachs

Price Target

$22 -> $20

2025-11-07

downgrade

Buy

Reason

Goldman Sachs lowered the firm's price target on Grindr to $20 from $22 but keeps a Buy rating on the shares after its Q3 results. Investors remain focused on developments surrounding the non-binding proposal submitted by Zage and Lu, but the management also noted that the Grindr team remains focused on executing against the broader addressable market opportunity through delivering a product that drives deeper user engagement, the analyst tells investors in a research note. The firm adds that while near-term debates will likely remain around user trajectory and any eventual resolution of the shareholder proposals, Goldman also sees the Grindr app as having outsized levels of engagement.

Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for GRND

Unlock Now

NINGI Research

downgrade

2025-09-09

Reason

NINGI Research

Price Target

2025-09-09

downgrade

Reason

NINGI Research is short Grindr. In a recently published report it says, \"Grindr's management has pursued aggressive monetization at the expense of its own users. This short-term extraction strategy is juicing near-term revenues, but it is eroding the platform's long-term viability.\" \"Based on our analysis and extensive interviews with former executives and employees, we believe Grindr's paying user numbers are inflated, its product is deteriorating, its user base is increasingly alienated, and its long-term prospects are deeply compromised. The result is an existential risk that markets have largely overlooked: Grindr's business model is already eroding significantly, while the fundamentals have yet to reflect it. Meanwhile, insiders appear to understand this dynamic all too well-dumping over $230 million in stock in the past twelve months,\" the report reads. \"Grindr is now a fundamentally broken business after leadership torched its only asset - its network effect - for short-term gain. The combination of a decaying product, fleeing users, questionable metrics, and the looming threat of a catastrophic margin call stands in stark contrast to Grindr's premium valuation. We believe investors are exposed to significant further downside.\" Shares of Grindr are down over 3% at $15.21 in morning trading. Reference Link

Citizens JMP

Andrew Boone

Outperform

maintain

$27 -> $23

2025-08-11

Reason

Citizens JMP

Andrew Boone

Price Target

$27 -> $23

2025-08-11

maintain

Outperform

Reason

Citizens JMP analyst Andrew Boone lowered the firm's price target on Grindr to $23 from $27 and keeps an Outperform rating on the shares. The company's Q2 revenue growth accelerated two points from Q1 but slightly missed projections, the analyst tells investors in a research note. The firm says its 2025 estimates are now back-loaded. Grindr is still innovating on creating the "gayborhood," which can expand its user base, monetization, and broader opportunity, contends Citizens JMP.

About GRND

Grindr Inc. manages and operates the Grindr platform, which a global social networking platform primarily serving and addressing the needs of gay, bisexual, and sexually explorative adults. The Company is developing new products for users to engage with the Grindr platform, which include new partnership-based digital versions of services typically found in physical gayborhoods. Its platform enables GBTQ adults to connect with one another. Its platform helps its users find what they are looking for: casual dating, long-term relationships, community and friendships, professional networking, travel information and local discovery. The Grindr platform offers a variety of location-based social features and functions, including identity expression (profile, photos, presence); connection (search, filters, the Cascade, Viewed Me); and interaction (chat, media sharing); with trust and safety tools across the experience, and subscriptions for premium features offering further access and control.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.