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

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

Institutional Trading of Argo Blockchain

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Catalina Capital Group LLC purchased a new stake in Argo Blockchain in the 1st quarter worth approximately $28,000. XTX Topco Ltd purchased a new position in shares of Argo Blockchain during the 2nd quarter worth $28,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Argo Blockchain during the second quarter worth $49,000. Finally, Vident Advisory LLC boosted its holdings in shares of Argo Blockchain by 108.5% during the first 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. 2.42% of the stock is currently owned by hedge funds and other institutional investors.

Argo Blockchain Stock Down 10.4 %

Shares of NASDAQ ARBK opened at $1.21 on Tuesday. The firm’s 50-day moving average is $1.26 and its two-hundred day moving average is $1.37. The company has a market capitalization of $69.89 million, a PE ratio of -2.57 and a beta of 1.88. Argo Blockchain has a 12-month low of $0.94 and a 12-month 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.

Argo Blockchain (NASDAQ:ARBK) last posted its earnings results 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 company 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%. Equities analysts anticipate that Argo Blockchain will post -0.46 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.