Argo Blockchain plc (NASDAQ:ARBK – Get Free Report) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 888,600 shares, a growth of 12.9% from the August 31st total of 787,000 shares. Based on an average daily trading volume, of 450,700 shares, the days-to-cover ratio is presently 2.0 days.
Wall Street Analyst Weigh In
Separately, HC Wainwright restated a “neutral” rating on shares of Argo Blockchain in a research report on Thursday, August 29th.
Read Our Latest Report on Argo Blockchain
Argo Blockchain Stock Down 10.4 %
Argo Blockchain (NASDAQ:ARBK – Get Free Report) last posted 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). The firm had revenue of $12.42 million during the quarter, compared to analysts’ expectations of $13.40 million. Argo Blockchain had a negative net margin of 93.70% and a negative return on equity of 4,172.69%. As a group, research analysts expect that Argo Blockchain will post -0.46 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in ARBK. Catalina Capital Group LLC acquired a new stake in Argo Blockchain in the first quarter valued at $28,000. XTX Topco Ltd purchased a new stake in Argo Blockchain during the second quarter worth about $28,000. Cubist Systematic Strategies LLC purchased a new stake in Argo Blockchain during the second quarter worth about $49,000. Finally, Vident Advisory LLC grew its position in 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 buying an additional 876,406 shares during the period. 2.42% of the stock is owned by hedge funds and other institutional investors.
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.
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