FY2024 EPS Forecast for Argo Blockchain Increased by Analyst

Argo Blockchain plc (NASDAQ:ARBK) – Analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for shares of Argo Blockchain in a research note issued to investors on Thursday, November 21st. HC Wainwright analyst K. Dede now anticipates that the company will post earnings of ($0.78) per share for the year, up from their prior 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 ($0.69) 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 (NASDAQ:ARBK) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.12). Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 92.08%. The business had revenue of $12.42 million for the quarter, compared to analyst estimates of $13.40 million.

Argo Blockchain Trading Down 6.2 %

Shares of ARBK stock opened at $1.06 on Monday. The company has a debt-to-equity ratio of 5.06, a quick ratio of 0.52 and a current ratio of 0.52. Argo Blockchain has a 1 year low of $1.02 and a 1 year high of $4.45. The stock has a fifty day moving average of $1.18 and a two-hundred day moving average of $1.26. The firm has a market capitalization of $67.45 million, a PE ratio of -1.49 and a beta of 1.88.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in Argo Blockchain during the 2nd quarter worth $28,000. Virtu Financial LLC acquired a new position in Argo Blockchain during the 3rd quarter worth $28,000. Cubist Systematic Strategies LLC acquired a new position in Argo Blockchain during the 2nd quarter worth $49,000. Finally, Jane Street Group LLC boosted its position in Argo Blockchain by 488.7% during the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock worth $1,181,000 after acquiring an additional 810,559 shares during the period. 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.