Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Sees Large Increase in Short Interest

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 2,890,000 shares, agrowthof78.4% from the June 30th total of 1,620,000 shares. Based on an average trading volume of 10,880,000 shares, the short-interest ratio is presently 0.3 days. Based on an average trading volume of 10,880,000 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Argo Blockchain stock. PEAK6 LLC bought a new stake in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 227,912 shares of the company’s stock, valued at approximately $129,000. PEAK6 LLC owned approximately 0.32% of Argo Blockchain at the end of the most recent quarter. 2.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Argo Blockchain to a “hold” rating in a research report on Friday, July 18th.

Argo Blockchain Stock Up 3.0%

Shares of ARBK stock opened at $0.30 on Thursday. The firm has a fifty day moving average of $0.34 and a 200-day moving average of $0.39. Argo Blockchain has a 12-month low of $0.15 and a 12-month high of $1.55. The company has a market capitalization of $21.79 million, a price-to-earnings ratio of -0.31 and a beta of 1.78.

Argo Blockchain (NASDAQ:ARBK) last issued its quarterly earnings data on Thursday, May 22nd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). On average, equities analysts expect that Argo Blockchain will post -0.78 EPS for the current year.

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.