Argo Blockchain plc (NASDAQ:ARBK) Short Interest Update

Argo Blockchain plc (NASDAQ:ARBK) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 1,440,000 shares, a drop of 17.2% from the December 15th 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.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ARBK shares. Keefe, Bruyette & Woods started coverage on Argo Blockchain in a research report on Wednesday, January 8th. They issued an “underperform” rating for the company. HC Wainwright reiterated a “neutral” rating on shares of Argo Blockchain in a research note on Thursday, November 21st.

Institutional Investors Weigh In On Argo Blockchain

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

Argo Blockchain Stock Performance

Shares of Argo Blockchain stock traded up $0.01 on Friday, hitting $0.62. The company’s stock had a trading volume of 304,760 shares, compared to its average volume of 446,070. Argo Blockchain has a 1 year low of $0.52 and a 1 year high of $2.92. The company has a market capitalization of $44.32 million, a price-to-earnings ratio of -0.86 and a beta of 1.97. The firm has a fifty day moving average price of $0.83 and a 200-day moving average price of $1.10.

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.