Argo Blockchain plc (NASDAQ:ARBK – Get Free Report) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 747,700 shares, a drop of 5.8% from the May 31st total of 793,600 shares. Based on an average daily trading volume, of 351,000 shares, the days-to-cover ratio is presently 2.1 days.
Analysts Set New Price Targets
Several brokerages recently commented on ARBK. Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.45 price objective on shares of Argo Blockchain in a research note on Thursday, March 28th. HC Wainwright reissued a “neutral” rating on shares of Argo Blockchain in a research note on Friday, May 24th.
Read Our Latest Research Report on ARBK
Hedge Funds Weigh In On Argo Blockchain
Argo Blockchain Stock Down 0.8 %
Shares of ARBK traded down $0.01 during midday trading on Tuesday, hitting $1.21. The stock had a trading volume of 176,491 shares, compared to its average volume of 620,329. The company has a 50 day simple moving average of $1.35 and a two-hundred day simple moving average of $1.89. The firm has a market cap of $69.89 million, a price-to-earnings ratio of -2.57 and a beta of 1.90. The company has a debt-to-equity ratio of 5.06, a current ratio of 0.65 and a quick ratio of 0.65. Argo Blockchain has a twelve month low of $0.94 and a twelve month high of $4.45.
Argo Blockchain (NASDAQ:ARBK – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $16.16 million for the quarter. Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 54.06%. On average, analysts anticipate that Argo Blockchain will post -0.46 EPS for the current year.
About Argo Blockchain
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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