Short interest in Argo Blockchain plc (NASDAQ:ARBK) increased 109.5% in December.

There was a noticeable increase in the number of short positions in Argo Blockchain plc (NASDAQ: ARBK ) during December. As of the previous day, a total of 696,800 shares were available for short selling; However, as of December 30, there were 1,460,000 shares available for short selling, representing a 109.5% increase from the previous day’s figure. The current days-to-cover ratio is 2.5 days, calculated based on an average daily volume of 580,400 shares. This figure was obtained after taking into account historical data.

In recent months, several institutional investors have adjusted the proportion of ARBK holdings within each of their individual investment portfolios. Van ECK Associates Corporation grew its stake in Argo Blockchain by 32.1% during the third quarter. After buying an additional 126,130 shares during the last quarter, Van ECK Associates Corp. owns now a total of 518,774 shares of the company’s stock, with a total market value of $2,007,000. An increase of 632.0 percent in the company’s stake in Argo Blockchain was achieved by Renaissance Technologies LLC during the first three months of 2018. Renaissance Technologies LLC has a total of 89,300 shares after buying an additional 77,100 in the last quarter. The value of Renaissance Technologies LLC’s entire stake in the company is currently estimated at $880,000. In the first three months of 2018, Vident Investment Advisory LLC made a new investment of $657,000. This investment was made in Argo Blockchain. State Street Corporation made a new investment of $139,000 in Argo Blockchain during the second quarter of 2018. During the second quarter, Hennion & Walsh Asset Management Inc. purchased a new position in Argo Blockchain investing approximately $118 thousand. Currently, 1.81% of the company’s shares are owned by institutions.

Recently, the company has received feedback from a number of research analysts. This information has been received. Barclays lowered the recommendation on Argo Blockchain, moving it from “overweight” to “equal weight” in a research note published on October 10th by the financial company. Additionally, they decided to cut the target price they had set for the company from $7.00 to $3.00, which was a significant decrease. Jefferies Financial Group recommended that investors “hold” rather than “buy” Argo Blockchain in a research report published on November 1st. The report was about cryptocurrency. The recommendation to “buy” something has been lowered since it was given earlier. Canaccord Genuity Group confirmed that it will continue to advise clients to “hold” Argo Blockchain shares in a research note published on November 1st. In a research note published on November 1st, Stifel Nicolaus recommended “sell” instead of “hold” for Argo Blockchain. This represented a change from the firm’s previous recommendation. Canaccord Genuity Group published a research note on November 1, in which they changed their recommendation on Argo Blockchain from “buy” to “hold”. This was the last, but not least, piece of news. The company’s stock has been assigned seven hold ratings, eight buy ratings and one sell recommendation by equities research analysts. The stock has been given an average recommendation of “Hold” by Bloomberg, and the market participants’ consensus price target is currently set at $9.00.

When trading started on Wednesday, the price of a share of Argo Blockchain was $1.82 per share. Over the past 50 days, the moving averages for the company are $0.85, and over the past 200 days they are $2.83. The price of Argo Blockchain fluctuated widely over the previous year, ranging from $0.36 to $11.65, with an average price of $11.65.

Mining bitcoin and other cryptocurrencies is the main focus of Argo Blockchain plc and its affiliates, which conduct mining operations worldwide. The use of specialized hardware and software is required to mine cryptographic algorithms. In December 2017, the company previously went by the name GoSun Blockchain Limited; However, it has since transitioned to operating under Argo Blockchain Plc.