Short Interest in Argo Blockchain plc (NASDAQ:ARBK) Drops By 10.8%

Argo Blockchain plc (NASDAQ:ARBK) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 918,400 shares, a drop of 10.8% from the October 15th total of 1,030,000 shares. Based on an average trading volume of 454,700 shares, the days-to-cover ratio is presently 2.0 days.

Argo Blockchain Stock Performance

Shares of ARBK opened at $1.23 on Friday. The company’s 50 day simple moving average is $1.18 and its 200-day simple moving average is $1.27. Argo Blockchain has a 12-month low of $1.04 and a 12-month high of $4.45. The firm has a market cap of $78.27 million, a PE ratio of -1.52 and a beta of 1.88. The company has a current ratio of 0.43, a quick ratio of 0.65 and a debt-to-equity ratio of 5.06.

Argo Blockchain (NASDAQ:ARBK) last announced its 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). 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 for the quarter, compared to analyst estimates of $13.40 million. As a group, equities analysts predict that Argo Blockchain will post -0.74 EPS for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in Argo Blockchain during the 2nd quarter worth $28,000. Cubist Systematic Strategies LLC purchased a new position in Argo Blockchain during the second quarter worth about $49,000. Jane Street Group LLC lifted its position in Argo Blockchain by 488.7% in the third quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after purchasing an additional 810,559 shares during the period. Finally, Vident Advisory LLC boosted its holdings in Argo Blockchain by 108.5% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 2.42% of the company’s stock.

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.