Short Interest in Argo Blockchain plc (NASDAQ:ARBK) Expands By 12.9%

Argo Blockchain plc (NASDAQ:ARBK - Get Free Report) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 888,600 shares, a growth of 12.9% from the August 31st total of 787,000 shares. Based on an average trading volume of 450,700 shares, the days-to-cover ratio is presently 2.0 days.

Hedge Funds Weigh In On Argo Blockchain

Institutional investors and hedge funds have recently modified their holdings of the company. Catalina Capital Group LLC bought a new position in Argo Blockchain in the first quarter worth approximately $28,000. XTX Topco Ltd bought a new position in Argo Blockchain in the 2nd quarter worth $28,000. Cubist Systematic Strategies LLC purchased a new position in Argo Blockchain during the second quarter valued at $49,000. Finally, Vident Advisory LLC lifted its position 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 valued at $3,655,000 after buying an additional 876,406 shares in the last quarter. 2.42% of the stock is currently owned by hedge funds and other institutional investors.

Argo Blockchain Trading Up 14.9 %

Shares of NASDAQ ARBK traded up $0.18 during midday trading on Friday, hitting $1.35. 574,590 shares of the company traded hands, compared to its average volume of 571,092. Argo Blockchain has a 12-month low of $0.94 and a 12-month high of $4.45. The firm has a market cap of $77.98 million, a P/E ratio of -2.87 and a beta of 1.88. The stock has a 50-day moving average price of $1.27 and a 200 day moving average price of $1.37. The company has a debt-to-equity ratio of 5.06, a quick ratio of 0.65 and a current ratio of 0.43.

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

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a "neutral" rating on shares of Argo Blockchain in a research note on Thursday, August 29th.

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.