Argo Blockchain plc (NASDAQ:ARBK) Short Interest Update

Posted by Don Miller on Apr 27th, 2024

Argo Blockchain plc (NASDAQ:ARBK – Get Free Report) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 686,500 shares, an increase of 56.3% from the March 31st total of 439,200 shares. Based on an average daily trading volume, of 648,100 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group reiterated a “hold” rating and set a $1.45 price objective on shares of Argo Blockchain in a research report on Thursday, March 28th. HC Wainwright downgraded Argo Blockchain from a “buy” rating to a “neutral” rating in a research report on Friday.

View Our Latest Stock Report on Argo Blockchain

Institutional Investors Weigh In On Argo Blockchain

An institutional investor recently raised its position in Argo Blockchain stock. Redwood Wealth Management Group LLC grew its stake in shares of Argo Blockchain plc (NASDAQ:ARBK – Free Report) by 33.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 76,755 shares of the company’s stock after acquiring an additional 19,300 shares during the period. Redwood Wealth Management Group LLC owned about 0.13% of Argo Blockchain worth $287,000 at the end of the most recent reporting period. 2.42% of the stock is owned by hedge funds and other institutional investors.

Argo Blockchain Stock Performance

ARBK opened at $1.52 on Friday. Argo Blockchain has a 1-year low of $0.92 and a 1-year high of $4.45. The business has a 50 day moving average price of $1.80 and a two-hundred day moving average price of $1.86.

Argo Blockchain Company Profile

(Get Free Report)

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.