Short Interest in Argo Blockchain plc (NASDAQ:ARBK) Drops By 26.8%

Argo Blockchain plc (NASDAQ:ARBK) was the target of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 1,670,000 shares, a drop of 26.8% from the January 31st total of 2,280,000 shares. Based on an average daily volume of 896,200 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Ratings Changes

Several research firms have recently issued reports on ARBK. Keefe, Bruyette & Woods started coverage on shares of Argo Blockchain in a report on Wednesday, January 8th. They issued an “underperform” rating for the company. HC Wainwright reiterated a “neutral” rating on shares of Argo Blockchain in a research note on Thursday, November 21st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ARBK. Virtu Financial LLC bought a new position in shares of Argo Blockchain during the 3rd quarter worth $28,000. Bank of Montreal Can bought a new position in Argo Blockchain during the 4th quarter worth about $37,000. XTX Topco Ltd increased its position in Argo Blockchain by 144.5% during the 3rd quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock valued at $72,000 after purchasing an additional 35,118 shares during the period. PEAK6 LLC bought a new stake in shares of Argo Blockchain in the 4th quarter valued at about $129,000. Finally, Jane Street Group LLC lifted its position in shares of 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 period. Institutional investors own 2.42% of the company’s stock.

Argo Blockchain Stock Performance

Argo Blockchain stock traded up $0.07 during trading hours on Tuesday, hitting $0.41. The company had a trading volume of 3,135,726 shares, compared to its average volume of 890,474. The firm has a market cap of $29.41 million, a P/E ratio of -0.57 and a beta of 1.95. The company has a 50-day moving average price of $0.54 and a two-hundred day moving average price of $0.91. Argo Blockchain has a 1 year low of $0.30 and a 1 year high of $2.48.

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.