Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Short Interest Update

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the recipient of a large decrease in short interest in May. As of May 29th, there was short interest totaling 31,735 shares, a decrease of 37.6% from the May 14th total of 50,843 shares. Based on an average daily trading volume, of 18,288 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.2% of the shares of the company are sold short.

Argo Blockchain Stock Performance

NASDAQ:ARBK opened at $3.67 on Monday. The stock has a fifty day moving average price of $3.48 and a 200-day moving average price of $7.18. The company has a market cap of $49.03 million, a price-to-earnings ratio of -0.03 and a beta of 1.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.51 and a current ratio of 0.51. Argo Blockchain has a fifty-two week low of $2.63 and a fifty-two week high of $205.20.

Analyst Ratings Changes

Separately, Weiss Ratings raised Argo Blockchain from a “sell (e+)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Argo Blockchain

An institutional investor recently bought a new position in Argo Blockchain stock. Armistice Capital LLC purchased a new position in shares of Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned approximately 6.17% of Argo Blockchain as of its most recent filing with the SEC. 2.42% of the stock is currently owned by institutional investors and hedge funds.

Argo Blockchain Company Profile

Argo Blockchain Plc is a publicly traded blockchain technology company focused on large-scale cryptocurrency mining. The company’s principal business activities involve the deployment and operation of high-performance data centers that house specialized hardware for mining Bitcoin and other digital assets. Through advanced infrastructure design and a commitment to operational efficiency, Argo seeks to optimize hash rates and energy consumption to maximize yields for its shareholders.

Founded in 2017 and headquartered in London, Argo Blockchain initially listed on the London AIM market before securing a secondary listing on the Nasdaq under the ticker ARBK.