Argo Blockchain plc (NASDAQ:ARBK) Short Interest Update

Argo Blockchain plc (NASDAQ:ARBK) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 946,300 shares, an increase of 52.3% from the July 15th total of 621,500 shares. Based on an average daily volume of 477,700 shares, the short-interest ratio is presently 2.0 days.

Institutional Trading of Argo Blockchain

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in Argo Blockchain during the second quarter worth $28,000. Catalina Capital Group LLC bought a new stake in Argo Blockchain in the first quarter valued at $28,000. Chesapeake Capital Corp IL acquired a new stake in Argo Blockchain in the fourth quarter valued at approximately $132,000. Finally, Vident Advisory LLC grew its position in Argo Blockchain by 108.5% in the 1st quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock valued at $3,655,000 after purchasing an additional 876,406 shares during the period. Institutional investors and hedge funds own 2.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of Argo Blockchain in a research note on Friday, May 24th.

Argo Blockchain Trading Down 0.1 %

Shares of NASDAQ:ARBK traded down $0.00 during mid-day trading on Wednesday, reaching $1.30. 10,624 shares of the company’s stock were exchanged, compared to its average volume of 626,849. The company has a debt-to-equity ratio of 5.06, a quick ratio of 0.65 and a current ratio of 0.65. Argo Blockchain has a twelve month low of $0.94 and a twelve month high of $4.45. The firm has a market capitalization of $75.04 million, a price-to-earnings ratio of -2.77 and a beta of 1.90. The business’s fifty day moving average price is $1.31 and its 200-day moving average price is $1.60.

Argo Blockchain (NASDAQ:ARBK) last released its quarterly earnings results on Thursday, May 23rd. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The company had revenue of $16.84 million during the quarter, compared to the consensus estimate of $17.00 million. Argo Blockchain had a negative net margin of 54.06% and a negative return on equity of 4,172.69%. On average, research analysts predict that Argo Blockchain will post -0.46 EPS for the current fiscal year.

Argo Blockchain Company Profile

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.