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

Argo Blockchain plc (NASDAQ:ARBK) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 918,400 shares, a decline 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.

Wall Street Analysts Forecast Growth

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

Argo Blockchain Stock Up 2.5 %

Shares of Argo Blockchain stock opened at $1.23 on Monday. The company has a fifty day moving average price of $1.18 and a 200 day moving average price of $1.27. The company has a current ratio of 0.43, a quick ratio of 0.65 and a debt-to-equity ratio of 5.06. Argo Blockchain has a twelve month low of $1.04 and a twelve month high of $4.45. The stock has a market cap of $78.26 million, a price-to-earnings ratio of -1.52 and a beta of 1.88.

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

Institutional Investors Weigh In On Argo Blockchain

A number of institutional investors have recently modified their holdings of ARBK. Vident Advisory LLC grew its position in Argo Blockchain by 108.5% in 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. Jane Street Group LLC grew its position in Argo Blockchain by 488.7% in 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 bought a new position in Argo Blockchain in the 2nd quarter worth about $49,000. Finally, XTX Topco Ltd grew its position in Argo Blockchain by 144.5% in 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. Institutional investors own 2.42% of the company’s stock.

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.