Argo Blockchain plc (NASDAQ:ARBK) Brief Interest Update

by Arthur · January 27, 2023

Argo Blockchain plc (NASDAQ:ARBK – Get Rating ) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest on a total of 1,040,000 shares, a decrease of 28.8% from a total of 1,460,000 shares on December 31st. Based on an average trading volume of 623,500 shares, the short interest ratio is currently 1.7 days.

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Analyst upgrades and downgrades

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ARBK has been the subject of a number of analyst reports. Canaccord Genuity Group cut Argo Blockchain from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. HC Wainwright lowered Argo Blockchain from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 14th. Roth Capital raised Argo Blockchain from a “sell” rating to a “neutral” rating in a research note on Wednesday, January 4th. Compass Point lowered Argo Blockchain from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 25th. Finally, Stifel Nicolaus lowered Argo Blockchain from a “hold” rating to a “sell” rating in a research note on Tuesday, November 1st. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.00.

Argo Blockchain Accumulates 3.6%

Shares in ARBK opened at $2.03 on Friday. Argo Blockchain has a 12-month low of $0.36 and a 12-month high of $11.40. The stock’s fifty day simple moving average is $1.00 and its 200 day simple moving average is $2.73.

Hedge funds weigh in on Argo Blockchain

Several large investors have recently made changes to their positions in ARBK. Virtu Financial LLC purchased a new position in shares of Argo Blockchain during the third quarter valued at $50,000. Private Advisor Group LLC purchased a new position in shares of Argo Blockchain during the second quarter valued at $52,000.Jane Street Group LLC purchased a new position in shares of Argo Blockchain during the third quarter valued at $72,000. Hennion & Walsh Asset Management Inc. purchased a new position in Argo Blockchain in the second quarter valued at about $118,000. To Finally, State Street Corp bought a new position in Argo Blockchain in the second quarter valued at about $139,000. Institutional investors and hedge funds own 1.81% of the company’s shares.

About Argo Blockchain

(Get rating)

Argo Blockchain plc, together with its subsidiaries, engages in the mining business of bitcoin and other cryptocurrencies worldwide. It mines purpose-built computers for 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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