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

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

Institutional Trading of Argo Blockchain

Several large investors have recently added to or reduced their stakes in ARBK. XTX Topco Ltd acquired a new position in Argo Blockchain during the 2nd quarter worth $28,000. Cubist Systematic Strategies LLC bought a new stake in shares of Argo Blockchain during the second quarter valued at about $49,000. Jane Street Group LLC lifted its holdings in Argo Blockchain by 488.7% in the third quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock worth $1,181,000 after purchasing an additional 810,559 shares during the period. Finally, Virtu Financial LLC bought a new position in Argo Blockchain in the 3rd quarter valued at about $28,000. 2.42% of the stock is currently owned by institutional investors and hedge funds.

Argo Blockchain Trading Down 4.0 %

Shares of NASDAQ:ARBK opened at $0.59 on Friday. The firm’s 50 day moving average is $0.82 and its two-hundred day moving average is $1.09. The firm has a market capitalization of $42.03 million, a P/E ratio of -0.81 and a beta of 1.97. Argo Blockchain has a 52 week low of $0.52 and a 52 week high of $2.92.

Analyst Ratings Changes

ARBK has been the subject of several recent research reports. HC Wainwright reiterated a “neutral” rating on shares of Argo Blockchain in a research note on Thursday, November 21st. Keefe, Bruyette & Woods began coverage on shares of Argo Blockchain in a research report on Wednesday, January 8th. They set an “underperform” rating for the company.

About Argo Blockchain

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.