Argo Blockchain plc (NASDAQ:ARBK) Short Interest Update

Argo Blockchain plc (NASDAQ:ARBK) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 787,000 shares, an increase of 7.9% from the August 15th total of 729,300 shares. Based on an average daily volume of 480,900 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vident Advisory LLC grew its stake in shares of Argo Blockchain by 108.5% during the 1st quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock worth $3,655,000 after purchasing an additional 876,406 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Argo Blockchain in the second quarter valued at $49,000. Chesapeake Capital Corp IL purchased a new stake in shares of Argo Blockchain during the 4th quarter worth about $132,000. XTX Topco Ltd acquired a new stake in shares of Argo Blockchain during the 2nd quarter valued at about $28,000. Finally, Catalina Capital Group LLC purchased a new position in shares of Argo Blockchain in the 1st quarter valued at about $28,000. 2.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “neutral” rating on shares of Argo Blockchain in a research report on Thursday, August 29th.

Argo Blockchain Stock Down 2.6 %

NASDAQ:ARBK opened at $1.14 on Tuesday. The company has a debt-to-equity ratio of 5.06, a current ratio of 0.43 and a quick ratio of 0.65. The company’s fifty day moving average price is $1.30 and its 200-day moving average price is $1.43. Argo Blockchain has a 1-year low of $0.94 and a 1-year high of $4.45. The firm has a market capitalization of $65.85 million, a P/E ratio of -2.43 and a beta of 1.88.

Argo Blockchain (NASDAQ:ARBK) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.12). The company had revenue of $12.42 million for the quarter, compared to analyst estimates of $13.40 million. Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 93.70%. As a group, equities research analysts anticipate that Argo Blockchain will post -0.46 EPS for the current year.

Argo Blockchain Company Profile

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. It engages in mining purpose-built computers for complex cryptographic algorithms. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017.