Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK – Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 9,259 shares, a drop of 42.5% from the July 15th total of 16,098 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 10,761 shares, the days-to-cover ratio is currently 0.9 days.
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 – Free Report) during the second quarter, according to the company in its most recent filing 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 approximately 6.17% of Argo Blockchain at the end of the most recent reporting period. Institutional investors and hedge funds own 2.42% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings raised Argo Blockchain from a “sell (e+)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.
Argo Blockchain Stock Down 0.0%
Shares of ARBK traded down $0.00 on Wednesday, reaching $2.88. The stock had a trading volume of 243 shares, compared to its average volume of 29,776. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $38.46 million, a price-to-earnings ratio of -0.02 and a beta of 1.90. The company has a 50-day simple moving average of $3.24 and a 200-day simple moving average of $3.25. Argo Blockchain has a 12-month low of $2.63 and a 12-month high of $205.20.
About Argo Blockchain
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.
Featured Stories
- Five stocks we like better than Argo Blockchain
- Quantum Stocks Are Starting to Choose Sides: Should Investors Do the Same?
- AeroVironment Hit a Bottom in Q2—Can It Take Flight in Q3?
- The Pre-IPO Playbook: How to Cash in on Anthropic Before the Bell
- Tesla’s Cybercab Launch Could Reshape Margins for Uber and Lyft
Receive News & Ratings for Argo Blockchain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Argo Blockchain and related companies with MarketBeat.com's FREE daily email newsletter.
