Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Sees Significant Growth in Short Interest

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 5,739 shares, a growth of 292.0% from the August 31st total of 1,464 shares. Based on an average daily trading volume, of 7,601 shares, the short-interest ratio is presently 0.8 days. Currently, 0.0% of the shares of the company are sold short.

Argo Blockchain Stock Performance

ARBK traded down $0.11 on Friday, reaching $2.34. The stock had a trading volume of 6,681 shares, compared to its average volume of 16,132. Argo Blockchain has a 12-month low of $2.15 and a 12-month high of $205.20. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $2.88 and its two-hundred day moving average price is $3.19. The company has a market cap of $31.26 million, a P/E ratio of -0.02 and a beta of 1.90.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Argo Blockchain in a research report on Friday, August 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Argo Blockchain has a consensus rating of “Reduce”.

Argo Blockchain Company Profile

Argo Blockchain plc is a cryptocurrency mining company focused primarily on producing bitcoin and other digital assets. The company operates specialized data centers that use computing equipment to validate transactions on blockchain networks and earn digital assets as rewards.

Founded in 2017, Argo is headquartered in London and has developed mining operations in North America. Its activities have included facilities in Quebec, Canada, and Texas, where the company has used a combination of owned infrastructure and hosting arrangements to support its mining operations.