Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Short Interest Down 69.5% in August

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 1,464 shares, a drop of 69.5% from the August 15th total of 4,802 shares. Based on an average daily trading volume, of 16,694 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Argo Blockchain

An institutional investor recently bought a new position in Argo Blockchain stock. Armistice Capital LLC acquired 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 Form 13F filing with the SEC. The firm acquired 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned approximately 6.17% of Argo Blockchain as of its most recent SEC filing. Institutional investors and hedge funds own 2.42% of the company’s stock.

Wall Street Analyst Weigh In

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

Argo Blockchain Price Performance

Shares of ARBK stock traded up $0.01 during trading on Friday, hitting $2.90. The company had a trading volume of 7,350 shares, compared to its average volume of 12,000. The firm has a market capitalization of $38.80 million, a P/E ratio of -0.02 and a beta of 1.90. Argo Blockchain has a one year low of $2.63 and a one year high of $205.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.51 and a current ratio of 0.51. The stock’s 50-day moving average price is $2.99 and its 200 day moving average price is $3.22.

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.