Argo Blockchain plc (NASDAQ:ARBK) Sees Large Growth in Short Interest

Argo Blockchain plc (NASDAQ:ARBK) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 2,980,000 shares, a growth of 78.4% from the February 28th total of 1,670,000 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average daily trading volume, of 1,680,000 shares, the short-interest ratio is presently 1.8 days.

Argo Blockchain Price Performance

Argo Blockchain stock opened at $0.37 on Monday. The business has a 50 day simple moving average of $0.45 and a 200-day simple moving average of $0.79. Argo Blockchain has a 12 month low of $0.30 and a 12 month high of $2.06. The stock has a market capitalization of $26.47 million, a PE ratio of -0.51 and a beta of 1.98.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods started coverage on Argo Blockchain in a research report on Wednesday, January 8th. They issued an “underperform” rating on the stock.

Hedge Funds Weigh In On Argo Blockchain

A number of large investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Argo Blockchain in the third quarter valued at about $28,000. XTX Topco Ltd boosted its holdings in Argo Blockchain by 144.5% in the 3rd quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock valued at $72,000 after purchasing an additional 35,118 shares in the last quarter. Bank of Montreal Can acquired a new position in Argo Blockchain during the 4th quarter worth approximately $37,000. PEAK6 LLC purchased a new position in shares of Argo Blockchain during the 4th quarter worth approximately $129,000. Finally, Jane Street Group LLC lifted its holdings in shares of Argo Blockchain by 488.7% in the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after buying an additional 810,559 shares during the period. Hedge funds and other institutional investors own 2.42% of the company’s stock.

Argo Blockchain Company Profile

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.