Argo Blockchain plc (NASDAQ: ARBK) sees a significant increase in short-term interest rates

Argo Blockchain plc (NASDAQ: ARBK – Get Rating) was the recipient of a large increase in short-term interest rates in June. As of 30 June, there were short-term interest rates on a total of 274,400 shares, an increase of 27.9% from a total of 214,600 shares on 15 June. Based on an average daily trading volume of 120,100 shares, the short-term interest rate ratio is currently 2.3 days.

Institutional investors weigh in on Argo Blockchain

Major investors have recently made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in Argo Blockchain in the second quarter worth approximately $ 52,000. Scotia Capital Inc. acquired a new stake in Argo Blockchain in the first quarter worth approximately $ 107,000. Kestra Advisory Services LLC acquired a new stake in shares in Argo Blockchain in the fourth quarter worth approximately $ 141,000. Connective Portfolio Management LLC acquired a new stake in Argo Blockchain in the 4th quarter worth approximately $ 159,000. Finally, First Trust Advisors LP acquired a new stake in Argo Blockchain in the 4th quarter worth approximately $ 469,000. Institutional investors own 1 , 57% of the company’s shares.

Analyst upgrades and downgrades

Several analysis companies have sent out reports on ARBK. Canaccord Genuity Group cut their price target on the Argo Blockchain from $ 16.00 to $ 13.00 and put a “buy” rating on the stock in a report on Friday 20. May. HC Wainwright lowered the target price of the Argo Blockchain from $ 16.00 to $ 14.00 and put a “buy” rating on the stock in a research note on Thursday 19 May. Compass Point lowered the target price of the Argo Blockchain from $ 25.00 to $ 12.00 in a research note on Tuesday, June 28th. Barclays lowered the target price of the Argo Blockchain from $ 15.00 to $ 7.00 and put an “overweight” rating on the stock in a research note on Friday 8. July. Finally, Stifel Nicolaus began covering Argo Blockchain in a research note on Friday 25. March. They set a “hold” rating and a target price of $ 11.00 on the stock. An investment analyst has rated the stock with a hold rating, and seven have given a buy rating to the stock. According to MarketBeat.com, the Argo Blockchain has an average rating of “Moderate Buy” and an average price target of $ 17.25.

Argo Blockchain Trading up 1.9%

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Shares of NASDAQ ARBK opened at $ 4.26 on Tuesday. The company has a 50 day single moving average of $ 5.14 and a 200 day single moving average of $ 7.89. Argo Blockchain has a minimum of $ 3.71 for 52 weeks and a maximum of $ 21.00 for 52 weeks. The company has a debt ratio of 0.23, a debt ratio of 2.39 and a quick ratio of 2.39.

Argo Blockchain company profile

(Get rating)

Argo Blockchain plc, together with its subsidiaries, is engaged in the mining business for bitcoin and other cryptocurrencies worldwide. It mines specially 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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