Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) Sees Large Decrease in Short Interest

Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) was the target of a large 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 shares of the company are sold short. Based on an average daily volume of 27,809 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ARBK shares. Weiss Ratings restated a “sell (d)” rating on shares of Argo Blockchain in a research report on Friday, August 21st. JonesTrading upgraded Argo Blockchain to a “hold” rating in a research note on Saturday, September 26th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Argo Blockchain has a consensus rating of “Reduce”.

Argo Blockchain Price Performance

Shares of ARBK stock remained flat at $2.10 during trading hours on Monday. 6,728 shares of the company were exchanged, compared to its average volume of 27,256. Argo Blockchain has a 1-year low of $2.00 and a 1-year high of $140.40. The company’s fifty day simple moving average is $2.72 and its 200-day simple moving average is $3.14. The company has a market cap of $28.06 million, a price-to-earnings ratio of -0.02 and a beta of 1.92.

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.