Short Interest in Argo Blockchain plc (NASDAQ:ARBK) Increases By 52.3%

Argo Blockchain plc (NASDAQ:ARBK) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 946,300 shares, a growth of 52.3% from the July 15th total of 621,500 shares. Based on an average trading volume of 477,700 shares, the days-to-cover ratio is presently 2.0 days.

Argo Blockchain Trading Down 0.1 %

Shares of NASDAQ ARBK traded down $0.00 during trading hours on Wednesday, hitting $1.30. 10,624 shares of the company traded hands, compared to its average volume of 626,849. The company’s 50 day moving average price is $1.31 and its 200 day moving average price is $1.60. The stock has a market capitalization of $75.04 million, a price-to-earnings ratio of -2.77 and a beta of 1.90. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 5.06. Argo Blockchain has a 12 month low of $0.94 and a 12 month high of $4.45.

Argo Blockchain (NASDAQ:ARBK) last issued its earnings results on Thursday, May 23rd. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The company had revenue of $16.84 million during the quarter, compared to the consensus estimate of $17.00 million. Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 54.06%. On average, equities research analysts anticipate that Argo Blockchain will post -0.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright restated a “neutral” rating on shares of Argo Blockchain in a research report on Friday, May 24th.

Hedge Funds Weigh In On Argo Blockchain

A number of large investors have recently bought and sold shares of ARBK. Vident Advisory LLC lifted its position in Argo Blockchain by 108.5% during the first quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock valued at $3,655,000 after acquiring an additional 876,406 shares during the last quarter. Chesapeake Capital Corp IL acquired a new stake in shares of Argo Blockchain in the 4th quarter worth $132,000. XTX Topco Ltd purchased a new position in Argo Blockchain during the 2nd quarter worth $28,000. Finally, Catalina Capital Group LLC acquired a new position in Argo Blockchain during the 1st quarter valued at about $28,000. Institutional investors own 2.42% of the company’s stock.

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.