Short Interest in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Grows By 89.6%

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 50,843 shares, an increase of 89.6% from the April 30th total of 26,815 shares. Based on an average daily trading volume, of 52,830 shares, the short-interest ratio is currently 1.0 days. Approximately 0.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Argo Blockchain

An institutional investor recently bought a new position in Argo Blockchain stock. Armistice Capital LLC purchased a new position in shares of Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned approximately 6.17% of Argo Blockchain at the end of the most recent reporting period. 2.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Argo Blockchain from a “sell (e+)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Argo Blockchain Stock Down 2.9%

Shares of Argo Blockchain stock opened at $3.74 on Tuesday. The company has a market cap of $49.97 million, a P/E ratio of -0.03 and a beta of 1.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.51 and a current ratio of 0.51. Argo Blockchain has a one year low of $2.63 and a one year high of $205.20. The firm has a fifty day moving average of $3.36 and a two-hundred day moving average of $10.42.

Argo Blockchain Company Profile

Argo Blockchain Plc is a publicly traded blockchain technology company focused on large-scale cryptocurrency mining. The company’s principal business activities involve the deployment and operation of high-performance data centers that house specialized hardware for mining Bitcoin and other digital assets. Through advanced infrastructure design and a commitment to operational efficiency, Argo seeks to optimize hash rates and energy consumption to maximize yields for its shareholders.

Founded in 2017 and headquartered in London, Argo Blockchain initially listed on the London AIM market before securing a secondary listing on the Nasdaq under the ticker ARBK.