Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK – Get Free Report) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 13,650 shares, a drop of 47.1% from the June 15th total of 25,808 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 19,114 shares, the days-to-cover ratio is currently 0.7 days.
Hedge Funds Weigh In On Argo Blockchain
An institutional investor recently bought a new position in Argo Blockchain stock. Armistice Capital LLC acquired a new stake in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned approximately 6.17% of Argo Blockchain as of its most recent SEC filing. Institutional investors and hedge funds own 2.42% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of Argo Blockchain from a “sell (e+)” rating to a “sell (d)” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Argo Blockchain currently has an average rating of “Reduce”.
Argo Blockchain Price Performance
Shares of ARBK opened at $3.12 on Thursday. The stock has a market cap of $41.72 million, a P/E ratio of -0.03 and a beta of 1.88. Argo Blockchain has a 1 year low of $2.63 and a 1 year high of $205.20. The stock’s 50-day moving average price is $3.62 and its two-hundred day moving average price is $3.46. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.14.
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.
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