Short Interest in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Decreases By 47.1%

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totaling 13,650 shares, a decrease of 47.1% from the June 15th total of 25,808 shares. Based on an average daily trading volume, of 19,114 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the company’s stock are sold short.

Argo Blockchain Stock Performance

ARBK traded up $0.10 during trading hours on Friday, hitting $3.17. The stock had a trading volume of 4,388 shares, compared to its average volume of 32,591. Argo Blockchain has a 1 year low of $2.63 and a 1 year high of $205.20. The company’s fifty day simple moving average is $3.61 and its 200 day simple moving average is $3.46. The stock has a market cap of $42.42 million, a PE ratio of -0.03 and a beta of 1.88. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.14.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Argo Blockchain

A hedge fund recently bought a new position in Argo Blockchain stock. Armistice Capital LLC bought a new position in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned approximately 6.17% of Argo Blockchain at the end of the most recent reporting period. Hedge funds and other institutional investors own 2.42% of the company’s stock.

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.