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

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 83,532 shares, an increase of 37.1% from the December 31st total of 60,923 shares. Approximately 25.0% of the shares of the company are sold short. Based on an average trading volume of 105,475 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 105,475 shares, the short-interest ratio is presently 0.8 days. Approximately 25.0% of the shares of the company are sold short.

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 shares of Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) during the 2nd quarter, according to the company in its most recent Form 13F 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. 2.42% of the stock is currently owned by hedge funds and other institutional investors.

Argo Blockchain Trading Up 4.6%

Shares of ARBK opened at $4.06 on Friday. The stock’s 50 day moving average is $15.39 and its two-hundred day moving average is $54.32. Argo Blockchain has a twelve month low of $3.25 and a twelve month high of $205.20. The firm has a market capitalization of $1.34 million, a PE ratio of -0.02 and a beta of 1.92.

Argo Blockchain (NASDAQ:ARBK) last posted its quarterly 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. On average, sell-side analysts predict that Argo Blockchain will post -0.78 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on ARBK shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Argo Blockchain in a research report on Wednesday, January 21st. Wall Street Zen upgraded Argo Blockchain to a “hold” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently 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.