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

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) saw a large decline in short interest in April. As of April 30th, there was short interest totaling 26,815 shares, a decline of 35.7% from the April 15th total of 41,714 shares. Approximately 8.0% of the company’s shares are sold short. Based on an average trading volume of 40,516 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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 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 as of its most recent filing with the Securities and Exchange Commission. 2.42% of the stock is currently owned by hedge funds and other institutional investors.

Argo Blockchain Stock Performance

Shares of ARBK traded down $0.21 during mid-day trading on Monday, hitting $3.98. 17,225 shares of the company’s stock were exchanged, compared to its average volume of 39,264. Argo Blockchain has a fifty-two week low of $2.63 and a fifty-two week high of $205.20. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $3.17 and its two-hundred day moving average is $16.05. The firm has a market capitalization of $1.31 million, a P/E ratio of -0.03 and a beta of 1.81.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Argo Blockchain in a research report on Monday, April 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

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.