Argo Blockchain plc (NASDAQ:ARBK – Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 65,000 shares, a decline of 38.1% from the August 15th total of 105,000 shares. Based on an average daily trading volume, of 450,200 shares, the short-interest ratio is presently 0.1 days.
Argo Blockchain Stock Performance
Shares of NASDAQ:ARBK traded down $0.04 on Friday, hitting $1.08. 40,404 shares of the company were exchanged, compared to its average volume of 355,404. The company has a current ratio of 0.49, a quick ratio of 0.99 and a debt-to-equity ratio of 11.53. Argo Blockchain has a 1-year low of $0.36 and a 1-year high of $4.80. The stock’s 50 day moving average price is $1.37 and its 200 day moving average price is $1.41.
Argo Blockchain (NASDAQ:ARBK – Get Free Report) last posted its quarterly earnings results on Tuesday, August 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. The business had revenue of $12.56 million for the quarter, compared to analysts’ expectations of $12.51 million. Equities analysts expect that Argo Blockchain will post -0.63 earnings per share for the current year.
Analyst Ratings Changes
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new position in shares of Argo Blockchain in the third quarter valued at approximately $72,000. Virtu Financial LLC purchased a new stake in shares of Argo Blockchain during the second quarter worth $34,000. XTX Topco Ltd purchased a new stake in shares of Argo Blockchain during the first quarter worth $51,000. State Street Corp purchased a new stake in shares of Argo Blockchain during the second quarter worth $139,000. Finally, Harvest Portfolios Group Inc. grew its holdings in shares of Argo Blockchain by 49.5% during the first quarter. Harvest Portfolios Group Inc. now owns 40,649 shares of the company’s stock worth $68,000 after buying an additional 13,467 shares in the last quarter. Hedge funds and other institutional investors own 1.13% of the company’s stock.
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.
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