Argo Blockchain (NASDAQ:ARBK) Stock Price Up 10.8% – Here’s What Happened

Shares of Argo Blockchain plc (NASDAQ:ARBK) shot up 10.8% during trading on Monday . The company traded as high as $0.42 and last traded at $0.42. 468,020 shares were traded during mid-day trading, a decline of 48% from the average session volume of 904,467 shares. The stock had previously closed at $0.38.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods initiated coverage on shares of Argo Blockchain in a report on Wednesday, January 8th. They set an “underperform” rating on the stock.

Argo Blockchain Stock Down 2.2 %

The company has a market capitalization of $27.85 million, a P/E ratio of -0.54 and a beta of 1.98. The company’s fifty day moving average price is $0.46 and its 200 day moving average price is $0.81.

Institutional Trading of Argo Blockchain

Several institutional investors have recently modified their holdings of ARBK. XTX Topco Ltd increased its position 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 buying an additional 35,118 shares in the last quarter. Jane Street Group LLC lifted its stake in Argo Blockchain by 488.7% in the third quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after purchasing an additional 810,559 shares during the last quarter. Virtu Financial LLC purchased a new stake in Argo Blockchain during the third quarter valued at about $28,000. Bank of Montreal Can bought a new position in Argo Blockchain in the 4th quarter worth approximately $37,000. Finally, PEAK6 LLC bought a new stake in shares of Argo Blockchain during the 4th quarter valued at $129,000. Institutional investors own 2.42% of the company’s stock.

About Argo Blockchain

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.