Argo Blockchain plc (NASDAQ:ARBK - Get Free Report) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 686,500 shares, a growth of 56.3% from the March 31st total of 439,200 shares. Based on an average trading volume of 648,100 shares, the days-to-cover ratio is presently 1.1 days.
Analysts Set New Price Targets
A number of research firms have issued reports on ARBK. Canaccord Genuity Group reaffirmed a "hold" rating and set a $1.45 price objective on shares of Argo Blockchain in a report on Thursday, March 28th. HC Wainwright cut Argo Blockchain from a "buy" rating to a "neutral" rating in a research note on Friday.
View Our Latest Research Report on Argo Blockchain
Institutional Investors Weigh In On Argo Blockchain
An institutional investor recently bought a new position in Argo Blockchain stock. Chesapeake Capital Corp IL purchased a new stake in shares of Argo Blockchain plc (NASDAQ:ARBK - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 35,253 shares of the company's stock, valued at approximately $132,000. Chesapeake Capital Corp IL owned 0.06% of Argo Blockchain as of its most recent SEC filing. 2.42% of the stock is owned by institutional investors.
Argo Blockchain Stock Performance
Argo Blockchain stock remained flat at $1.52 during midday trading on Friday. The company had a trading volume of 171,652 shares, compared to its average volume of 327,665. Argo Blockchain has a fifty-two week low of $0.92 and a fifty-two week high of $4.45. The business has a 50 day moving average of $1.80 and a 200-day moving average of $1.86.
Argo Blockchain Company Profile
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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.
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