Argo Blockchain plc (NASDAQ:ARBK) Short Interest Update

Argo Blockchain plc (NASDAQ:ARBK) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 686,500 shares, an increase of 56.3% from the March 31st total of 439,200 shares. Based on an average daily trading volume, of 648,100 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Trading of Argo Blockchain

An institutional investor recently raised its position in Argo Blockchain stock. Redwood Wealth Management Group LLC increased its position in shares of Argo Blockchain plc (NASDAQ:ARBK) by 33.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,755 shares of the company’s stock after buying an additional 19,300 shares during the period. Redwood Wealth Management Group LLC owned about 0.13% of Argo Blockchain worth $287,000 at the end of the most recent quarter. 2.42% of the stock is owned by hedge funds and other institutional investors.

Argo Blockchain Price Performance

ARBK remained flat at $1.52 during trading on Friday. The company had a trading volume of 171,652 shares, compared to its average volume of 327,665. The business’s 50 day moving average is $1.80 and its 200 day moving average is $1.86. Argo Blockchain has a 12 month low of $0.92 and a 12 month high of $4.45.

Analyst Ratings Changes

A number of research analysts have recently commented on ARBK shares. Canaccord Genuity Group reiterated a “hold” rating and set a $1.45 target price on shares of Argo Blockchain in a research report on Thursday, March 28th. HC Wainwright downgraded Argo Blockchain from a “buy” rating to a “neutral” rating in a research report on Friday.

Argo Blockchain Company Profile

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.