Argo Blockchain plc (NASDAQ:ARBK) Short Interest Up 78.4% in March

Argo Blockchain plc (NASDAQ:ARBK) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,980,000 shares, an increase of 78.4% from the February 28th total of 1,670,000 shares. Based on an average daily trading volume, of 1,680,000 shares, the short-interest ratio is currently 1.8 days. Approximately 4.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods initiated coverage on Argo Blockchain in a research note on Wednesday, January 8th. They issued an “underperform” rating on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Argo Blockchain during the third quarter worth approximately $28,000. XTX Topco Ltd increased its position in shares of Argo Blockchain by 144.5% during the 3rd quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock valued at $72,000 after purchasing an additional 35,118 shares during the last quarter. Bank of Montreal Can bought a new stake in Argo Blockchain in the fourth quarter worth $37,000. PEAK6 LLC purchased a new position in Argo Blockchain during the fourth quarter worth $129,000. Finally, Jane Street Group LLC increased its position in Argo Blockchain by 488.7% during the third quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after acquiring an additional 810,559 shares during the last quarter. Institutional investors own 2.42% of the company’s stock.

Argo Blockchain Stock Down 4.2 %

Argo Blockchain stock opened at $0.37 on Friday. Argo Blockchain has a 52-week low of $0.30 and a 52-week high of $2.06. The firm’s fifty day moving average is $0.45 and its 200 day moving average is $0.80. The company has a market cap of $26.47 million, a price-to-earnings ratio of -0.51 and a beta of 1.98.

About Argo Blockchain

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.