HC Wainwright Raises Earnings Estimates for Argo Blockchain

Argo Blockchain plc (NASDAQ:ARBK) – Stock analysts at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for shares of Argo Blockchain in a research report issued to clients and investors on Thursday, November 21st. HC Wainwright analyst K. Dede now forecasts that the company will earn ($0.78) per share for the year, up from their previous forecast of ($0.87). HC Wainwright has a “Neutral” rating on the stock. The consensus estimate for Argo Blockchain’s current full-year earnings is ($0.74) per share. HC Wainwright also issued estimates for Argo Blockchain’s Q4 2024 earnings at ($0.14) EPS and FY2025 earnings at ($0.44) EPS.

Argo Blockchain Trading Up 4.5 %

NASDAQ:ARBK opened at $1.17 on Monday. The firm has a market capitalization of $74.45 million, a P/E ratio of -1.63 and a beta of 1.88. Argo Blockchain has a 52 week low of $1.02 and a 52 week high of $4.45. The company has a quick ratio of 0.65, a current ratio of 0.52 and a debt-to-equity ratio of 5.06. The company has a fifty day moving average of $1.18 and a 200 day moving average of $1.26.

Argo Blockchain (NASDAQ:ARBK) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.12). Argo Blockchain had a negative net margin of 92.08% and a negative return on equity of 4,172.69%. The company had revenue of $12.42 million for the quarter, compared to analysts’ expectations of $13.40 million.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in Argo Blockchain in the 3rd quarter worth approximately $28,000. XTX Topco Ltd bought a new position in shares of Argo Blockchain during the second quarter valued at approximately $28,000. Cubist Systematic Strategies LLC purchased a new stake in Argo Blockchain in the second quarter worth $49,000. Finally, Jane Street Group LLC boosted its holdings in Argo Blockchain by 488.7% in the third quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after acquiring an additional 810,559 shares in the last quarter. Hedge funds and other institutional investors own 2.42% of the company’s stock.

About Argo Blockchain

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.