Argo Blockchain plc (NASDAQ:ARBK) Short Interest Down 5.8% in June

Argo Blockchain plc (NASDAQ:ARBK) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 747,700 shares, a decrease of 5.8% from the May 31st total of 793,600 shares. Based on an average daily trading volume, of 351,000 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ARBK shares. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $1.45 price target on shares of Argo Blockchain in a report on Thursday, March 28th. HC Wainwright reaffirmed a “neutral” rating on shares of Argo Blockchain in a research report on Friday, May 24th.

Hedge Funds Weigh In On Argo Blockchain

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Catalina Capital Group LLC purchased a new position in shares of Argo Blockchain in the 1st quarter valued at approximately $28,000. Chesapeake Capital Corp IL purchased a new position in Argo Blockchain in the 4th quarter valued at $132,000. Redwood Wealth Management Group LLC increased its stake in Argo Blockchain by 33.6% in the 4th quarter. Redwood Wealth Management Group LLC now owns 76,755 shares of the company’s stock valued at $287,000 after buying an additional 19,300 shares during the period. Finally, Vident Advisory LLC raised its position in Argo Blockchain by 108.5% during the 1st quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock worth $3,655,000 after buying an additional 876,406 shares during the last quarter. Hedge funds and other institutional investors own 2.42% of the company’s stock.

Argo Blockchain Price Performance

Shares of NASDAQ ARBK opened at $1.21 on Thursday. The stock has a market cap of $69.89 million, a PE ratio of -2.57 and a beta of 1.90. Argo Blockchain has a 52-week low of $0.94 and a 52-week high of $4.45. The business has a 50-day moving average price of $1.35 and a 200 day moving average price of $1.89. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 5.06.

Argo Blockchain (NASDAQ:ARBK) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $16.16 million during the quarter. Argo Blockchain had a negative net margin of 54.06% and a negative return on equity of 4,172.69%. Equities research analysts forecast that Argo Blockchain will post -0.46 earnings per share for the current year.

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.