Short Interest in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Decreases By 47.1%

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 13,650 shares, a decrease of 47.1% from the June 15th total of 25,808 shares. Based on an average daily volume of 19,114 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the shares of the stock are sold short.

Argo Blockchain Stock Up 1.0%

Shares of NASDAQ ARBK opened at $3.13 on Wednesday. Argo Blockchain has a 12 month low of $2.63 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 firm has a fifty day simple moving average of $3.64 and a two-hundred day simple moving average of $3.46. The firm has a market capitalization of $41.83 million, a PE ratio of -0.03 and a beta of 1.88.

Hedge Funds Weigh In On Argo Blockchain

An institutional investor recently bought a new stake in Argo Blockchain stock. Armistice Capital LLC bought a new stake in shares of Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned 6.17% of Argo Blockchain as of its most recent filing with the Securities and Exchange Commission. 2.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

About Argo Blockchain

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.