News
Argo Blockchain plc (NASDAQ:ARBK) Short Interest Down 5.8% in June
Argo Blockchain plc (NASDAQ:ARBK – Get a free report) has seen a significant decrease in short interest during the month of June. As of June 15, there were 747,700 shares of short interest, a decrease of 5.8% from the May 31 total of 793,600 shares. Based on average daily trading volume of 351,000 shares, the days-to-cover ratio currently stands at 2.1 days.
Wall Street analysts predict growth
Several equity analysts have recently published reports on shares of ARBK. Canaccord Genuity Group reiterated a “hold” rating and issued a $1.45 price objective on shares of Argo Blockchain in a research report on Thursday, March 28th. HC Wainwright reiterated a “neutral” rating on shares of Argo Blockchain in a research report on Friday, May 24th.
Read our latest analysis on ARBK
Hedge Funds Weigh Argo Blockchain
Hedge funds and other institutional investors have recently made changes to their holdings in the stock. Catalina Capital Group LLC bought a new position in shares of Argo Blockchain in the 1st quarter worth about $28,000. Chesapeake Capital Corp IL bought a new position in Argo Blockchain in the 4th quarter worth $132,000. Redwood Wealth Management Group LLC increased its stake in Argo Blockchain by 33.6% in the 4th quarter. Redwood Wealth Management Group LLC now owns 76,755 shares of the company’s stock worth $287,000 after purchasing an additional 19,300 shares during the period. Finally, Vident Advisory LLC increased its position in Argo Blockchain by 108.5% during the 1st quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock worth $3,655,000 after purchasing an additional 876,406 shares during the last quarter. Hedge funds and other institutional investors own 2.42% of the company’s stock.
Argo Blockchain Price/Performance Ratio
Actions of NASDAQ Quote opened at $1.21 on Thursday. The stock has a market cap of $69.89 million, a P/E ratio of -2.57, and a beta of 1.90. Argo Blockchain has a 52-week low of $0.94 and a 52-week high of $4.45. The company has a 50-day moving average price of $1.35 and a 200-day moving average price of $1.89. The company has a quick ratio of 0.65, a current ratio of 0.65, and a debt-to-equity ratio of 5.06.
Argo Blockchain (NASDAQ:ARBK – Get a free report) last released its quarterly earnings data on Tuesday, April 30. The company reported ($0.02) earnings per share for the quarter. The company had revenue of $16.16 million during the quarter. Argo Blockchain had a negative net margin of -54.06% and a negative return on equity of -4,172.69%. Equities research analysts expect Argo Blockchain to post -0.46 earnings per share for the current year.
Argo Blockchain Company Profile
Argo Blockchain plc, together with its subsidiaries, is engaged in the mining of bitcoin and other cryptocurrencies worldwide. It is engaged in mining on 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.
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