Argo Blockchain plc (NASDAQ:ARBK) Short Interest Up 78.4% in March

Argo Blockchain plc (NASDAQ:ARBK) was the target of a large growth in short interest during 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. Approximately 4.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,680,000 shares, the days-to-cover ratio is presently 1.8 days.

Argo Blockchain Stock Down 4.2 %

Shares of NASDAQ ARBK opened at $0.37 on Friday. The business has a 50-day moving average price of $0.45 and a 200 day moving average price of $0.80. The stock has a market cap of $26.47 million, a PE ratio of -0.51 and a beta of 1.98. Argo Blockchain has a 52-week low of $0.30 and a 52-week high of $2.06.

Institutional Investors Weigh In On Argo Blockchain

Several large investors have recently modified their holdings of ARBK. Virtu Financial LLC purchased a new stake in Argo Blockchain in the 3rd quarter valued at $28,000. Bank of Montreal Can purchased a new stake in shares of Argo Blockchain in the fourth quarter valued at about $37,000. XTX Topco Ltd boosted its stake in shares of Argo Blockchain by 144.5% during the third quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock worth $72,000 after buying an additional 35,118 shares during the period. PEAK6 LLC purchased a new position in shares of Argo Blockchain during the fourth quarter worth about $129,000. Finally, Jane Street Group LLC increased its position in 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 acquiring an additional 810,559 shares during the period. 2.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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