Short Interest in Argo Blockchain plc (NASDAQ:ARBK) Declines By 17.2%

Argo Blockchain plc (NASDAQ:ARBK) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 1,440,000 shares, a drop of 17.2% from the December 31st total of 1,740,000 shares. Based on an average daily trading volume, of 1,120,000 shares, the short-interest ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ARBK. HC Wainwright reissued a “neutral” rating on shares of Argo Blockchain in a research report on Thursday, November 21st. Keefe, Bruyette & Woods assumed coverage on Argo Blockchain in a report on Wednesday, January 8th. They issued an “underperform” rating on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC lifted its holdings in shares of Argo Blockchain by 488.7% during the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after buying an additional 810,559 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Argo Blockchain during the second quarter valued at approximately $49,000. XTX Topco Ltd lifted its stake in Argo Blockchain by 144.5% in the third quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock valued at $72,000 after acquiring an additional 35,118 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Argo Blockchain in the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 2.42% of the company’s stock.

Argo Blockchain Stock Up 2.9 %

Shares of NASDAQ:ARBK traded up $0.01 during trading on Friday, reaching $0.51. 1,249,079 shares of the company traded hands, compared to its average volume of 433,171. The firm has a fifty day simple moving average of $0.68 and a 200 day simple moving average of $1.05. Argo Blockchain has a 1-year low of $0.45 and a 1-year high of $2.92. The firm has a market cap of $36.86 million, a P/E ratio of -0.71 and a beta of 1.97.

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.