Argo Blockchain plc (NASDAQ:ARBK) Sees Significant Decrease in Short Interest

Argo Blockchain plc (NASDAQ:ARBK) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 918,400 shares, a drop of 10.8% from the October 15th total of 1,030,000 shares. Based on an average trading volume of 454,700 shares, the short-interest ratio is currently 2.0 days.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “neutral” rating on shares of Argo Blockchain in a report on Thursday, August 29th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. XTX Topco Ltd increased its stake 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 during the last quarter. Jane Street Group LLC increased its stake in shares of Argo Blockchain by 488.7% during the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock worth $1,181,000 after purchasing an additional 810,559 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Argo Blockchain during the 2nd quarter worth $49,000. Finally, Vident Advisory LLC increased its stake in shares of Argo Blockchain by 108.5% during the 1st quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock worth $3,655,000 after purchasing an additional 876,406 shares during the last quarter. Institutional investors and hedge funds own 2.42% of the company’s stock.

Argo Blockchain Stock Up 2.5 %

Shares of NASDAQ:ARBK opened at $1.23 on Monday. The company has a debt-to-equity ratio of 5.06, a quick ratio of 0.65 and a current ratio of 0.43. The company has a market cap of $78.26 million, a PE ratio of -1.52 and a beta of 1.88. Argo Blockchain has a 52 week low of $1.04 and a 52 week high of $4.45. The firm has a 50 day simple moving average of $1.18 and a 200 day simple moving average of $1.27.

Argo Blockchain (NASDAQ:ARBK) last issued its quarterly earnings results on Wednesday, August 28th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.12). Argo Blockchain had a negative net margin of 93.70% and a negative return on equity of 4,172.69%. The firm had revenue of $12.42 million during the quarter, compared to analysts’ expectations of $13.40 million. As a group, research analysts expect that Argo Blockchain will post -0.74 earnings per share for the current 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.