Argo Blockchain plc (NASDAQ:ARBK) Brief Interest Update

Argo Blockchain plc (NASDAQ:ARBK – Get Rating ) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 206,200 shares, a 15.4% drop from the August 15th total of 243,600 shares. Based on an average trading volume of 104,200 shares, the days-to-cover ratio is currently 2.0 days.

Argo Blockchain Accumulates 5.3%

NASDAQ ARBK opened at $4.73 on Friday. The company has a quick ratio of 2.39, a gearing ratio of 2.11 and a gearing ratio of 0.44. The company has a 50 day moving average price of $4.87 and a 200 day moving average price of $6.28. Argo Blockchain has a 1 year low of $3.71 and a 1 year high of $21.00.

Hedge funds weigh in on Argo Blockchain

Several hedge funds have recently bought and sold shares. Van ECK Associates Corp boosted its position in Argo Blockchain by 7.5% during the second quarter. Van ECK Associates Corp now owns 392,644 shares of the company’s stock worth $1,476,000 after buying an additional 27,320 shares in the last quarter. Renaissance Technologies LLC boosted its position in Argo Blockchain by 632.0% during the first quarter. Renaissance Technologies LLC now owns 89,300 shares of the company’s stock worth $880,000 after buying an additional 77,100 shares in the last quarter. Gillson Capital LP boosted its position in Argo Blockchain by 32.6% during the first quarter. Gillson Capital LP now owns 86,966 shares of the company’s stock worth $857,000 after buying an additional 21,368 shares in the last quarter. Vident Investment Advisory LLC bought a new position in Argo Blockchain during the first quarter worth $657,000. Finally, First Trust Advisors LP boosted its position in Argo Blockchain by 47.1% during the first quarter. First Trust Advisors LP now owns 56,724 shares of the company’s stock worth $559,000 after buying an additional 18,175 shares in the last quarter. Hedge funds and other institutional investors own 1.85% of the company’s shares.

Analysts set new price targets

ARBK has been the subject of a number of analyst reports. Canaccord Genuity Group cut their target price on Argo Blockchain from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 29th. Canaccord Genuity Group cut their target price on Argo Blockchain from $13.00 to $10.00 in a research note on Monday, August 29th. HC Wainwright cut their target price on Argo Blockchain from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, 26th. August. Barclays cut their target price on Argo Blockchain from $15.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. July. Finally, Compass Point cut their target price on Argo Blockchain from $25.00 to $12.00 in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Argo Blockchain has an average rating of “Moderate Buy” and an average price target of $15.44.

Argo Blockchain Company Profile

(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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