Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Short Interest Update

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the target of a large drop in short interest in December. As of December 31st, there was short interest totaling 60,923 shares, a drop of 87.5% from the December 15th total of 488,827 shares. Based on an average trading volume of 312,500 shares, the days-to-cover ratio is presently 0.2 days. Currently, 18.2% of the company’s stock are short sold. Currently, 18.2% of the company’s stock are short sold. Based on an average trading volume of 312,500 shares, the days-to-cover ratio is presently 0.2 days.

Argo Blockchain Stock Up 21.2%

ARBK stock traded up $0.92 during midday trading on Monday, hitting $5.26. The company’s stock had a trading volume of 164,446 shares, compared to its average volume of 229,230. The stock’s 50-day moving average price is $31.43 and its 200 day moving average price is $59.96. Argo Blockchain has a 1 year low of $3.25 and a 1 year high of $205.20.

Argo Blockchain (NASDAQ:ARBK) last released its earnings results on Tuesday, September 30th. The company reported ($10.80) EPS for the quarter. The firm had revenue of $3.14 million during the quarter. Analysts expect that Argo Blockchain will post -0.78 EPS for the current year.

Institutional Investors Weigh In On Argo Blockchain

An institutional investor recently bought a new position in Argo Blockchain stock. Armistice Capital LLC purchased a new position in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned 6.17% of Argo Blockchain at the end of the most recent quarter. Institutional investors own 2.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Argo Blockchain to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Argo Blockchain in a report on Wednesday, October 8th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Argo Blockchain in a report on Friday, October 3rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Argo Blockchain Company Profile

Argo Blockchain Plc is a publicly traded blockchain technology company focused on large-scale cryptocurrency mining. The company’s principal business activities involve the deployment and operation of high-performance data centers that house specialized hardware for mining Bitcoin and other digital assets. Through advanced infrastructure design and a commitment to operational efficiency, Argo seeks to optimize hash rates and energy consumption to maximize yields for its shareholders.

Founded in 2017 and headquartered in London, Argo Blockchain initially listed on the London AIM market before securing a secondary listing on the Nasdaq under the ticker ARBK.