Short Interest in Argo Blockchain plc (NASDAQ:ARBK) Increases By 22.0%

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

Analyst Ratings Changes

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

Argo Blockchain Trading Down 19.6 %

Shares of ARBK stock traded down $0.22 on Monday, hitting $0.90. The stock had a trading volume of 2,776,057 shares, compared to its average volume of 653,659. The company has a fifty day moving average price of $1.17 and a two-hundred day moving average price of $1.25. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 5.06. The firm has a market cap of $57.27 million, a P/E ratio of -1.25 and a beta of 1.88. Argo Blockchain has a twelve month low of $0.90 and a twelve month high of $4.45.

Hedge Funds Weigh In On Argo Blockchain

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC lifted its stake in 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 acquiring an additional 810,559 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Argo Blockchain by 144.5% during the 3rd quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock worth $72,000 after purchasing an additional 35,118 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Argo Blockchain in the 2nd quarter valued at $49,000. Finally, Virtu Financial LLC bought a new position in Argo Blockchain in the third quarter valued at about $28,000. 2.42% of the stock is currently owned by institutional investors and hedge funds.

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.