Short Interest in Argo Blockchain plc (NASDAQ:ARBK) Declines By 17.2%

Argo Blockchain plc (NASDAQ:ARBK) was the recipient of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 1,440,000 shares, a decrease of 17.2% from the December 31st total of 1,740,000 shares. Based on an average daily volume of 1,120,000 shares, the short-interest ratio is presently 1.3 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC increased its holdings 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 acquiring an additional 810,559 shares during the period. XTX Topco Ltd grew its stake in shares of 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. Cubist Systematic Strategies LLC acquired a new position in shares of Argo Blockchain in the 2nd quarter worth approximately $49,000. Finally, Virtu Financial LLC acquired a new position in shares of Argo Blockchain in the 3rd quarter worth approximately $28,000. 2.42% of the stock is currently owned by institutional investors.

Argo Blockchain Trading Up 28.4 %

NASDAQ ARBK traded up $0.13 during trading hours on Thursday, reaching $0.59. 299,407 shares of the company traded hands, compared to its average volume of 464,665. Argo Blockchain has a 12 month low of $0.45 and a 12 month high of $2.92. The stock has a market capitalization of $42.46 million, a PE ratio of -0.76 and a beta of 1.97. The company has a 50 day moving average of $0.70 and a two-hundred day moving average of $1.06.

Analyst Ratings Changes

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

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.