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

Argo Blockchain plc (NASDAQ:ARBK) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 1,120,000 shares, a growth of 22.0% from the October 31st total of 918,400 shares. Based on an average daily volume of 725,400 shares, the short-interest ratio is currently 1.5 days.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “neutral” rating on shares of Argo Blockchain in a research report on Thursday, November 21st.

Institutional Trading of Argo Blockchain

A number of hedge funds and other institutional investors have recently modified their holdings of ARBK. XTX Topco Ltd bought a new position in shares of Argo Blockchain during the second quarter valued at $28,000. Virtu Financial LLC bought a new position in Argo Blockchain during the 3rd quarter worth $28,000. Cubist Systematic Strategies LLC acquired a new position in Argo Blockchain during the 2nd quarter worth about $49,000. Finally, Jane Street Group LLC grew its position in shares of Argo Blockchain by 488.7% in the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after buying an additional 810,559 shares during the last quarter. Institutional investors own 2.42% of the company’s stock.

Argo Blockchain Stock Performance

Shares of NASDAQ:ARBK traded up $0.02 on Friday, reaching $1.12. 936,977 shares of the company’s stock were exchanged, compared to its average volume of 646,688. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 5.06. Argo Blockchain has a twelve month low of $1.02 and a twelve month high of $4.45. The company has a fifty day moving average of $1.17 and a 200-day moving average of $1.26. The company has a market capitalization of $71.27 million, a price-to-earnings ratio of -1.56 and a beta of 1.88.

Argo Blockchain (NASDAQ:ARBK) last posted its quarterly earnings results on Wednesday, August 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.12). Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 92.08%. The firm had revenue of $12.42 million for the quarter, compared to analyst estimates of $13.40 million. On average, research analysts predict that Argo Blockchain will post -0.69 EPS for the current fiscal year.

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.