Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Short Interest Down 43.7% in March

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 43,688 shares, a decrease of 43.7% from the February 26th total of 77,609 shares. Currently, 13.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 16,990 shares, the days-to-cover ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

ARBK has been the topic of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Argo Blockchain in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Argo Blockchain to a “hold” rating in a research note on Saturday, December 13th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Argo Blockchain has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Argo Blockchain

An institutional investor recently bought a new position in Argo Blockchain stock. Armistice Capital LLC bought a new position in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned about 6.17% of Argo Blockchain at the end of the most recent reporting period. Institutional investors own 2.42% of the company’s stock.

Argo Blockchain Stock Performance

NASDAQ ARBK opened at $3.00 on Friday. The stock has a 50-day moving average of $3.27 and a 200-day moving average of $36.69. Argo Blockchain has a 1-year low of $2.63 and a 1-year high of $205.20. The firm has a market cap of $990,000.00, a PE ratio of -0.01 and a beta of 1.97.

Argo Blockchain Company Profile

Argo Blockchain Plc is a publicly traded blockchain technology company focused on large-scale cryptocurrency mining. The company’s principal business activities involve the deployment and operation of high-performance data centers that house specialized hardware for mining Bitcoin and other digital assets. Through advanced infrastructure design and a commitment to operational efficiency, Argo seeks to optimize hash rates and energy consumption to maximize yields for its shareholders.

Founded in 2017 and headquartered in London, Argo Blockchain initially listed on the London AIM market before securing a secondary listing on the Nasdaq under the ticker ARBK.