Argo Blockchain’s (ARBK) “Neutral” Rating Reaffirmed at HC Wainwright

Argo Blockchain (NASDAQ:ARBK)‘s stock had its “neutral” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports.

Argo Blockchain Stock Up 4.5 %

Shares of ARBK opened at $1.17 on Thursday. The firm has a market cap of $74.45 million, a PE ratio of -1.45 and a beta of 1.88. The company’s fifty day moving average is $1.18 and its two-hundred day moving average is $1.27. Argo Blockchain has a fifty-two week low of $1.02 and a fifty-two week high of $4.45. The company has a quick ratio of 0.65, a current ratio of 0.43 and a debt-to-equity ratio of 5.06.

Argo Blockchain (NASDAQ:ARBK) last posted its earnings results on Wednesday, August 28th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.12). The business had revenue of $12.42 million for the quarter, compared to analyst estimates of $13.40 million. Argo Blockchain had a negative net margin of 93.70% and a negative return on equity of 4,172.69%. Analysts forecast that Argo Blockchain will post -0.74 earnings per share for the current year.

Hedge Funds Weigh In On Argo Blockchain

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Argo Blockchain during the 3rd quarter valued at $28,000. XTX Topco Ltd acquired a new position in Argo Blockchain in the 2nd quarter worth $28,000. Cubist Systematic Strategies LLC acquired a new position in Argo Blockchain in the 2nd quarter worth $49,000. Finally, Jane Street Group LLC lifted its holdings in Argo Blockchain by 488.7% in the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock worth $1,181,000 after buying an additional 810,559 shares in the last quarter. Institutional investors and hedge funds own 2.42% of the company’s stock.

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.