Argo Blockchain plc (NASDAQ:ARBK) Sees Large Increase in Short Interest

Argo Blockchain plc (NASDAQ:ARBK) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 2,280,000 shares, a growth of 47.1% from the January 15th total of 1,550,000 shares. Based on an average daily trading volume, of 1,200,000 shares, the short-interest ratio is currently 1.9 days.

Argo Blockchain Price Performance

Shares of NASDAQ ARBK opened at $0.54 on Friday. The business’s 50 day moving average is $0.59 and its two-hundred day moving average is $0.97. Argo Blockchain has a 1-year low of $0.43 and a 1-year high of $2.90. The stock has a market capitalization of $38.44 million, a P/E ratio of -0.74 and a beta of 1.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. HC Wainwright reiterated a “neutral” rating on shares of Argo Blockchain in a research report on Thursday, November 21st. Keefe, Bruyette & Woods assumed coverage on Argo Blockchain in a research report on Wednesday, January 8th. They issued an “underperform” rating on the stock.

Institutional Investors Weigh In On Argo Blockchain

Several large investors have recently added to or reduced their stakes in the stock. PEAK6 LLC bought a new stake in Argo Blockchain during the fourth quarter worth approximately $129,000. Bank of Montreal Can bought a new stake in Argo Blockchain during the fourth quarter worth approximately $37,000. Virtu Financial LLC bought a new stake in Argo Blockchain during the third quarter worth approximately $28,000. XTX Topco Ltd increased its stake in Argo Blockchain by 144.5% during the third quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock worth $72,000 after acquiring an additional 35,118 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Argo Blockchain by 488.7% during the third quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock worth $1,181,000 after acquiring an additional 810,559 shares during the last quarter. 2.42% of the stock is owned by institutional investors.

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.