News
Argo Blockchain plc (NASDAQ:ARBK) sees a sharp decline in short interest
Argo Blockchain plc (NASDAQ:ARBK – Get a free report) saw a sharp decline in short-term interest in May. As of May 15, there was short interest totaling 697,800 shares, a decline of 14.0% from the April 30 total of 811,600 shares. Based on an average daily trading volume of 470,300 shares, the short interest rate is currently 1.5 days.
Changes to analyst ratings
Numerous research firms have recently commented on ARBK. HC Wainwright reissued a “neutral” rating on shares of Argo Blockchain in a report on Friday, May 24. Canaccord Genuity Group raised a “hold” rating and issued a $1.45 price target on shares of Argo Blockchain in a research note on Thursday, March 28.
Check out our latest analysis for Argo Blockchain
Argo Blockchain price performance
Argo Blockchain Shares it opened at $1.41 on Friday. The company has a market capitalization of $81.44 million, a PE ratio of -3.02 and a beta of 2.01. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 5.06. The stock has a 50-day moving average price of $1.51 and a two-hundred-day moving average price of $1.91. Argo Blockchain has a 12-month low of $0.92 and a 12-month high of $4.45.
Institutional investors have their weight in Argo Blockchain
Several hedge funds have recently increased or reduced their holdings in the sector. Vident Advisory LLC increased its stake in shares of Argo Blockchain by 108.5% during the first quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock valued at $3,655,000 after acquiring an additional 876,406 shares during the last quarter. Chesapeake Capital Corp IL acquired a new position in Argo Blockchain during the 4th quarter worth about $132,000. Redwood Wealth Management Group LLC increased its holdings in Argo Blockchain by 33.6% during the fourth quarter. Redwood Wealth Management Group LLC now owns 76,755 shares of the company’s stock valued at $287,000 after purchasing an additional 19,300 shares during the period. Finally, Catalina Capital Group LLC purchased a new stake in shares of Argo Blockchain in the first quarter worth about $28,000. 2.42% of the stock is currently owned by institutional investors and hedge funds.
About Argo Blockchain
Argo Blockchain plc, together with its subsidiaries, is engaged in the mining of bitcoin and other cryptocurrencies worldwide. Engages in mining purpose-built computers for complex cryptographic algorithms. The company was previously known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017.
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