Argo Blockchain plc (NASDAQ:ARBK) Short Interest Update

Argo Blockchain plc (NASDAQ:ARBK) saw a significant decline in short interest in January. As of January 15th, there was short interest totalling 1,440,000 shares, a decline of 17.2% from the December 31st total of 1,740,000 shares. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ARBK. HC Wainwright reaffirmed a “neutral” rating on shares of Argo Blockchain in a report on Thursday, November 21st. Keefe, Bruyette & Woods initiated coverage on Argo Blockchain in a report on Wednesday, January 8th. They issued an “underperform” rating on the stock.

Argo Blockchain Price Performance

Shares of ARBK traded up $0.06 on Friday, hitting $0.56. The company’s stock had a trading volume of 867,516 shares, compared to its average volume of 751,951. The company has a market capitalization of $39.80 million, a PE ratio of -0.77 and a beta of 1.97. Argo Blockchain has a fifty-two week low of $0.45 and a fifty-two week high of $2.92. The company has a 50 day moving average price of $0.69 and a 200 day moving average price of $1.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Argo Blockchain in the 3rd quarter worth approximately $28,000. XTX Topco Ltd acquired a new position in Argo Blockchain during the 2nd quarter worth $28,000. Cubist Systematic Strategies LLC acquired a new position in Argo Blockchain during the 2nd quarter worth $49,000. Finally, Jane Street Group LLC lifted its holdings in Argo Blockchain by 488.7% during the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock worth $1,181,000 after buying an additional 810,559 shares in the last quarter. 2.42% of the stock is owned by institutional investors and hedge funds.

About Argo Blockchain

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. It engages in mining purpose-built computers for complex cryptographic algorithms. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017.