Argo Blockchain plc (NASDAQ:ARBK) Short Interest Update

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

Argo Blockchain Stock Performance

ARBK stock traded up $0.01 during midday trading on Friday, reaching $0.62. 304,760 shares of the company traded hands, compared to its average volume of 446,070. Argo Blockchain has a 52-week low of $0.52 and a 52-week high of $2.92. The business has a 50 day moving average of $0.83 and a 200-day moving average of $1.10. The firm has a market capitalization of $44.32 million, a price-to-earnings ratio of -0.86 and a beta of 1.97.

Institutional Investors Weigh In On Argo Blockchain

Several hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Argo Blockchain in the third quarter worth approximately $28,000. XTX Topco Ltd increased its holdings in Argo Blockchain by 144.5% during the 3rd quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock worth $72,000 after purchasing an additional 35,118 shares during the period. Jane Street Group LLC increased 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 purchasing an additional 810,559 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Argo Blockchain during the 2nd quarter valued at $49,000. 2.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ARBK. HC Wainwright reissued a “neutral” rating on shares of Argo Blockchain in a research note on Thursday, November 21st. Keefe, Bruyette & Woods began coverage on Argo Blockchain in a research note on Wednesday, January 8th. They set an “underperform” rating for the company.

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.