Argo Blockchain plc (NASDAQ:ARBK) Short Interest Update

Argo Blockchain plc (NASDAQ:ARBK) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 918,400 shares, a decline of 10.8% from the October 15th total of 1,030,000 shares. Based on an average daily volume of 454,700 shares, the short-interest ratio is presently 2.0 days.

Argo Blockchain Trading Up 2.5 %

NASDAQ ARBK opened at $1.23 on Friday. The company has a debt-to-equity ratio of 5.06, a current ratio of 0.43 and a quick ratio of 0.65. The stock has a market capitalization of $78.27 million, a P/E ratio of -1.52 and a beta of 1.88. The firm’s 50-day moving average is $1.18 and its two-hundred day moving average is $1.27. Argo Blockchain has a 12 month low of $1.04 and a 12 month high of $4.45.

Argo Blockchain (NASDAQ:ARBK) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.12). The firm had revenue of $12.42 million for the quarter, compared to analysts’ expectations of $13.40 million. Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 93.70%. On average, sell-side analysts anticipate that Argo Blockchain will post -0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Argo Blockchain

Several hedge funds have recently made changes to their positions in ARBK. Vident Advisory LLC raised its stake in shares of Argo Blockchain by 108.5% in the first quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock valued at $3,655,000 after acquiring an additional 876,406 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Argo Blockchain in the 2nd quarter valued at about $49,000. XTX Topco Ltd acquired a new stake in Argo Blockchain in the 2nd quarter valued at about $28,000. Finally, Jane Street Group LLC boosted its stake in shares of Argo Blockchain by 488.7% in the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after buying an additional 810,559 shares during the period. Institutional investors and hedge funds own 2.42% of the company’s stock.

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.