Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Short Interest Down 48.1% in August

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) saw a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 4,802 shares, a decline of 48.1% from the July 30th total of 9,259 shares. Based on an average daily volume of 13,912 shares, the short-interest ratio is presently 0.3 days. Currently, 0.0% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Argo Blockchain in a research note 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 MarketBeat.com, Argo Blockchain has a consensus rating of “Reduce”.

Argo Blockchain Trading Up 1.4%

Shares of NASDAQ:ARBK opened at $2.91 on Tuesday. 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 has a 50 day moving average of $3.09 and a two-hundred day moving average of $3.21. Argo Blockchain has a 12-month low of $2.63 and a 12-month high of $205.20. The company has a market capitalization of $38.88 million, a PE ratio of -0.02 and a beta of 1.90.

Hedge Funds Weigh In On Argo Blockchain

A hedge fund recently bought a new position in Argo Blockchain stock. Armistice Capital LLC bought a new position in shares of Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned about 6.17% of Argo Blockchain at the end of the most recent reporting period. Institutional investors own 2.42% of the company’s stock.

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.