Argo Blockchain plc (NASDAQ:ARBK) Short Interest Down 17.2% in December

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

Argo Blockchain Price Performance

ARBK traded down $0.01 during trading on Thursday, reaching $0.61. 190,987 shares of the company’s stock were exchanged, compared to its average volume of 452,989. Argo Blockchain has a 1 year low of $0.52 and a 1 year high of $2.92. The company’s fifty day simple moving average is $0.84 and its 200-day simple moving average is $1.10. The stock has a market capitalization of $43.89 million, a P/E ratio of -0.85 and a beta of 1.97.

Institutional Trading of Argo Blockchain

A number of hedge funds have recently added to or reduced their stakes in ARBK. Jane Street Group LLC increased its stake in shares of Argo Blockchain by 488.7% in the 3rd 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 in the last quarter. XTX Topco Ltd boosted its position in Argo Blockchain by 144.5% during the third quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock worth $72,000 after purchasing an additional 35,118 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Argo Blockchain in the second quarter valued at approximately $49,000. Finally, Virtu Financial LLC purchased a new stake in shares of Argo Blockchain in the third quarter valued at approximately $28,000. 2.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.