Argo Blockchain plc (NASDAQ:ARBK) Short Interest Update

Argo Blockchain plc (NASDAQ:ARBK) saw 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 volume of 648,100 shares, the short-interest ratio is presently 1.1 days.

Institutional Trading of Argo Blockchain

An institutional investor recently raised its position in Argo Blockchain stock. Redwood Wealth Management Group LLC raised its holdings in shares of Argo Blockchain plc (NASDAQ:ARBK) by 33.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,755 shares of the company’s stock after purchasing an additional 19,300 shares during the quarter. Redwood Wealth Management Group LLC owned 0.13% of Argo Blockchain worth $287,000 as of its most recent SEC filing. 2.42% of the stock is owned by institutional investors.

Argo Blockchain Stock Performance

NASDAQ:ARBK opened at $1.52 on Monday. The company has a fifty day moving average of $1.80 and a 200-day moving average of $1.87. Argo Blockchain has a twelve month low of $0.92 and a twelve month high of $4.45.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. HC Wainwright lowered shares of Argo Blockchain from a “buy” rating to a “neutral” rating in a report on Friday. Canaccord Genuity Group reiterated a “hold” rating and issued a $1.45 price objective on shares of Argo Blockchain in a research note on Thursday, March 28th.

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.