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

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 43,688 shares, a drop of 43.7% from the February 26th total of 77,609 shares. Currently, 13.1% of the company’s shares are sold short. Based on an average daily trading volume, of 16,990 shares, the days-to-cover ratio is currently 2.6 days.

Argo Blockchain Stock Down 2.7%

Shares of Argo Blockchain stock traded down $0.08 during trading hours on Friday, hitting $2.92. The company’s stock had a trading volume of 3,065 shares, compared to its average volume of 40,723. Argo Blockchain has a 1-year low of $2.63 and a 1-year high of $205.20. The business has a fifty day moving average of $3.30 and a 200 day moving average of $37.02. The company has a market capitalization of $963,600.00, a PE ratio of -0.01 and a beta of 1.97.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARBK. Weiss Ratings reissued a “sell (e+)” rating on shares of Argo Blockchain in a research report on Wednesday, January 21st. Wall Street Zen raised Argo Blockchain to a “hold” rating in a research note on Saturday, December 13th. 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, the stock currently has an average rating of “Reduce”.

Institutional Trading of Argo Blockchain

A hedge fund recently bought a new stake in Argo Blockchain stock. Armistice Capital LLC acquired a new stake in 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 (SEC). The firm acquired 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned 6.17% of Argo Blockchain at the end of the most recent reporting period. Institutional investors and hedge funds own 2.42% of the company’s stock.

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.