Argo Blockchain plc (NASDAQ:ARBK) Short Interest Update

Argo Blockchain plc (NASDAQ:ARBK) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 841,800 shares, a decrease of 5.3% from the September 15th total of 888,600 shares. Based on an average daily trading volume, of 471,000 shares, the days-to-cover ratio is currently 1.8 days.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “neutral” rating on shares of Argo Blockchain in a research note on Thursday, August 29th.

Institutional Investors Weigh In On Argo Blockchain

A number of large investors have recently added to or reduced their stakes in the company. Vident Advisory LLC boosted its holdings in shares of Argo Blockchain by 108.5% during the first quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock worth $3,655,000 after purchasing an additional 876,406 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Argo Blockchain in the 2nd quarter worth approximately $49,000. XTX Topco Ltd bought a new stake in shares of Argo Blockchain in the 2nd quarter worth approximately $28,000. Finally, Catalina Capital Group LLC purchased a new position in shares of Argo Blockchain during the first quarter valued at approximately $28,000. Institutional investors own 2.42% of the company’s stock.

Argo Blockchain Stock Up 5.7 %

ARBK opened at $1.22 on Friday. Argo Blockchain has a 12 month low of $0.94 and a 12 month high of $4.45. The company has a current ratio of 0.43, a quick ratio of 0.65 and a debt-to-equity ratio of 5.06. The business’s 50-day moving average price is $1.20 and its 200-day moving average price is $1.32. The company has a market cap of $70.18 million, a P/E ratio of -2.57 and a beta of 1.87.

Argo Blockchain (NASDAQ:ARBK) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.12). Argo Blockchain had a negative net margin of 93.70% and a negative return on equity of 4,172.69%. The company had revenue of $12.42 million for the quarter, compared to analysts’ expectations of $13.40 million. On average, equities analysts expect that Argo Blockchain will post -0.63 EPS 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.