Argo Blockchain plc (NASDAQ:ARBK) Sees Large Increase in Short Interest

Argo Blockchain plc (NASDAQ:ARBK) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 888,600 shares, a growth of 12.9% from the August 31st total of 787,000 shares. Based on an average trading volume of 450,700 shares, the short-interest ratio is presently 2.0 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Catalina Capital Group LLC purchased a new position in Argo Blockchain in the 1st quarter worth approximately $28,000. XTX Topco Ltd bought a new stake in Argo Blockchain during the 2nd quarter valued at $28,000. Cubist Systematic Strategies LLC purchased a new stake in Argo Blockchain during the 2nd quarter valued at $49,000. Finally, Vident Advisory LLC grew its holdings 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 acquiring an additional 876,406 shares during the last quarter. 2.42% of the stock is owned by institutional investors.

Argo Blockchain Stock Down 6.7 %

Shares of ARBK opened at $1.26 on Monday. Argo Blockchain has a 1 year low of $0.94 and a 1 year high of $4.45. The company has a debt-to-equity ratio of 5.06, a current ratio of 0.43 and a quick ratio of 0.65. The stock has a 50 day simple moving average of $1.27 and a two-hundred day simple moving average of $1.37. The firm has a market cap of $72.78 million, a P/E ratio of -2.87 and a beta of 1.88.

Argo Blockchain (NASDAQ:ARBK) last announced its quarterly earnings data on Wednesday, August 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.12). The business had revenue of $12.42 million during the quarter, compared to analysts’ expectations of $13.40 million. Argo Blockchain had a negative net margin of 93.70% and a negative return on equity of 4,172.69%. On average, analysts forecast that Argo Blockchain will post -0.46 earnings per share for the current fiscal 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.