Argo Blockchain plc (NASDAQ:ARBK) Sees Significant Decrease in Short Interest

Argo Blockchain plc (NASDAQ:ARBK - Get Free Report) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 841,800 shares, a decrease of 5.3% from the September 15th total of 888,600 shares. Based on an average daily volume of 471,000 shares, the days-to-cover ratio is currently 1.8 days.

Argo Blockchain Trading Down 3.4 %

Argo Blockchain stock traded down $0.04 during mid-day trading on Thursday, hitting $1.15. The company's stock had a trading volume of 158,321 shares, compared to its average volume of 556,532. The stock's fifty day moving average is $1.20 and its two-hundred day moving average is $1.32. The company has a current ratio of 0.43, a quick ratio of 0.65 and a debt-to-equity ratio of 5.06. The firm has a market capitalization of $66.43 million, a PE ratio of -2.45 and a beta of 1.87. Argo Blockchain has a 1 year low of $0.94 and a 1 year high of $4.45.

Argo Blockchain (NASDAQ:ARBK - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $12.42 million for the quarter, compared to analysts' expectations of $13.40 million. Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 93.70%. On average, analysts anticipate that Argo Blockchain will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Argo Blockchain

A number of institutional investors have recently made changes to their positions in the stock. Catalina Capital Group LLC purchased a new position in shares of Argo Blockchain during the 1st quarter worth approximately $28,000. XTX Topco Ltd purchased a new stake in Argo Blockchain during the second quarter worth about $28,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Argo Blockchain during the second quarter worth about $49,000. Finally, Vident Advisory LLC boosted its stake in shares of Argo Blockchain by 108.5% in the first quarter. Vident Advisory LLC now owns 1,684,232 shares of the company's stock valued at $3,655,000 after purchasing an additional 876,406 shares during the period. 2.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

About Argo Blockchain

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.