Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Short Interest Down 35.7% in April

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

Hedge Funds Weigh In On Argo Blockchain

A hedge fund recently bought a new stake in Argo Blockchain stock. Armistice Capital LLC acquired a new position in shares of Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned approximately 6.17% of Argo Blockchain at the end of the most recent reporting period. 2.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Argo Blockchain Price Performance

ARBK stock opened at $3.88 on Wednesday. The company has a 50 day simple moving average of $3.21 and a 200 day simple moving average of $14.81. The stock has a market cap of $1.28 million, a price-to-earnings ratio of -0.03 and a beta of 1.81. Argo Blockchain has a 1 year low of $2.63 and a 1 year high of $205.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.51 and a quick ratio of 0.51.

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.