Short Interest in Argo Blockchain plc (NASDAQ:ARBK) Rises By 22.4%

Argo Blockchain plc (NASDAQ:ARBK - Get Free Report) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 1,030,000 shares, an increase of 22.4% from the September 30th total of 841,800 shares. Based on an average daily volume of 376,700 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Investors Weigh In On Argo Blockchain

Institutional investors have recently bought and sold shares of the company. Catalina Capital Group LLC purchased a new position in shares of Argo Blockchain in the first quarter worth about $28,000. XTX Topco Ltd acquired a new stake in Argo Blockchain in the 2nd quarter valued at about $28,000. Cubist Systematic Strategies LLC purchased a new position in Argo Blockchain in the 2nd quarter worth approximately $49,000. Finally, Vident Advisory LLC boosted its holdings 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 last quarter. 2.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Argo Blockchain Price Performance

Shares of NASDAQ:ARBK traded up $0.12 during midday trading on Monday, reaching $1.24. 724,100 shares of the company's stock traded hands, compared to its average volume of 553,525. The company has a fifty day simple moving average of $1.19 and a two-hundred day simple moving average of $1.30. Argo Blockchain has a 1 year low of $1.01 and a 1 year high of $4.45. The company has a market cap of $71.62 million, a P/E ratio of -2.64 and a beta of 1.87. 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 posted its quarterly earnings data on Wednesday, August 28th. The company reported ($0.19) earnings per share (EPS) 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 analysts' expectations of $13.40 million. Argo Blockchain had a negative net margin of 93.70% and a negative return on equity of 4,172.69%. Equities analysts predict that Argo Blockchain will post -0.63 EPS for the current fiscal 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.