Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Stock Short Interest Falls 79.8%

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 1,157 shares, a decrease of 79.8% from the September 15th total of 5,739 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 27,809 shares, the short-interest ratio is currently 0.0 days.

Argo Blockchain Price Performance

Shares of ARBK stock traded up $0.03 during mid-day trading on Friday, hitting $2.10. 7,311 shares of the stock traded hands, compared to its average volume of 20,232. Argo Blockchain has a 52-week low of $2.04 and a 52-week high of $146.88. The stock has a market cap of $28.06 million, a P/E ratio of -0.02 and a beta of 1.92. The stock’s fifty day moving average is $2.72 and its two-hundred day moving average is $3.14.

Wall Street Analysts Forecast Growth

ARBK has been the topic of several recent research reports. JonesTrading raised Argo Blockchain to a “hold” rating in a research report on Saturday, September 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Argo Blockchain in a report on Friday, August 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

About Argo Blockchain

Argo Blockchain plc is a digital asset technology company focused on cryptocurrency mining. Its primary activity is operating specialized computing infrastructure used to validate transactions on blockchain networks, with a particular emphasis on Bitcoin mining.

Founded in 2017 and headquartered in London, Argo has developed and operated large-scale mining facilities in North America, including sites in Quebec, Canada, and Texas. The company has also provided cryptocurrency mining services through data-center infrastructure and has used specialized hardware and proprietary systems to manage mining operations.

Argo Blockchain is listed on the London Stock Exchange and trades in the United States through American depositary shares on Nasdaq under the symbol ARBK.