Argo Blockchain plc (NASDAQ:ARBK) Short Interest Update

Argo Blockchain plc (NASDAQ:ARBK) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 686,500 shares, a growth of 56.3% from the March 31st total of 439,200 shares. Based on an average trading volume of 648,100 shares, the short-interest ratio is currently 1.1 days.

Hedge Funds Weigh In On Argo Blockchain

A hedge fund recently bought a new stake in Argo Blockchain stock. Chesapeake Capital Corp IL purchased a new stake in shares of Argo Blockchain plc (NASDAQ:ARBK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 35,253 shares of the company’s stock, valued at approximately $132,000. Chesapeake Capital Corp IL owned 0.06% of Argo Blockchain at the end of the most recent quarter. Institutional investors own 2.42% of the company’s stock.

Argo Blockchain Price Performance

Shares of NASDAQ:ARBK opened at $1.52 on Friday. The business has a 50-day simple moving average of $1.80 and a two-hundred day simple moving average of $1.86. Argo Blockchain has a fifty-two week low of $0.92 and a fifty-two week high of $4.45.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group restated a “hold” rating and issued a $1.45 target price on shares of Argo Blockchain in a report on Thursday, March 28th. HC Wainwright cut shares of Argo Blockchain from a “buy” rating to a “neutral” rating in a report on Friday.

About Argo Blockchain

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.