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

Argo Blockchain plc (NASDAQ:ARBK – Get Free Report) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 793,600 shares, a growth of 13.7% from the May 15th total of 697,800 shares. Based on an average trading volume of 366,700 shares, the short-interest ratio is currently 2.2 days.

Analyst Ratings Changes

Several equities analysts recently weighed in on ARBK shares. Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.45 target price 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.

Check Out Our Latest Report on ARBK

Institutional Investors Weigh In On Argo Blockchain

Several institutional investors have recently made changes to their positions in ARBK. Catalina Capital Group LLC bought a new stake in Argo Blockchain during the 1st quarter valued at about $28,000. Chesapeake Capital Corp IL bought a new stake in Argo Blockchain during the 4th quarter valued at about $132,000. Redwood Wealth Management Group LLC lifted its holdings in Argo Blockchain by 33.6% during the 4th quarter. Redwood Wealth Management Group LLC now owns 76,755 shares of the company’s stock valued at $287,000 after buying an additional 19,300 shares in the last quarter. Finally, Vident Advisory LLC lifted its holdings in Argo Blockchain by 108.5% during the 1st quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock valued at $3,655,000 after buying an additional 876,406 shares in the last quarter. Institutional investors own 2.42% of the company’s stock.
Argo Blockchain Price Performance

Shares of NASDAQ:ARBK opened at $1.29 on Friday. Argo Blockchain has a 52 week low of $0.92 and a 52 week high of $4.45. The firm has a fifty day simple moving average of $1.43 and a two-hundred day simple moving average of $1.92. 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 (NASDAQ:ARBK – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.02) EPS for the quarter. Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 54.06%. The business had revenue of $16.16 million during the quarter. As a group, sell-side analysts predict that Argo Blockchain will post -0.46 earnings per share for the current year.

About Argo Blockchain

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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.