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

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 1,157 shares, a decrease of 79.8% from the September 15th total of 5,739 shares. Based on an average trading volume of 27,809 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the company’s shares are sold short.

Analyst Ratings Changes

A number of research firms recently weighed in on ARBK. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Argo Blockchain in a research report on Friday, August 21st. JonesTrading raised Argo Blockchain to a “hold” rating in a research report on Saturday, September 26th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Argo Blockchain Stock Performance

NASDAQ ARBK opened at $2.02 on Tuesday. The firm has a 50 day simple moving average of $2.70 and a 200-day simple moving average of $3.14. Argo Blockchain has a one year low of $2.00 and a one year high of $140.40. The firm has a market cap of $26.99 million, a price-to-earnings ratio of -0.02 and a beta of 1.92.

Argo Blockchain Company Profile

Argo Blockchain plc is a digital asset technology company focused on cryptocurrency mining. Its primary activity is operating specialized computing infrastructure used to validate transactions on blockchain networks, with a particular emphasis on Bitcoin mining.

Founded in 2017 and headquartered in London, Argo has developed and operated large-scale mining facilities in North America, including sites in Quebec, Canada, and Texas. The company has also provided cryptocurrency mining services through data-center infrastructure and has used specialized hardware and proprietary systems to manage mining operations.

Argo Blockchain is listed on the London Stock Exchange and trades in the United States through American depositary shares on Nasdaq under the symbol ARBK.