Argo Blockchain (NASDAQ:ARBK) Coverage Initiated at Keefe, Bruyette & Woods

Analysts at Keefe, Bruyette & Woods began coverage on shares of Argo Blockchain (NASDAQ:ARBK) in a report released on Wednesday, Marketbeat.com reports. The firm set an “underperform” rating on the stock.

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of Argo Blockchain in a report on Thursday, November 21st.

Argo Blockchain Stock Performance

Shares of ARBK stock opened at $0.63 on Wednesday. The firm has a market capitalization of $39.80 million, a price-to-earnings ratio of -0.87 and a beta of 1.97. The company has a debt-to-equity ratio of 5.06, a current ratio of 0.52 and a quick ratio of 0.52. The business has a fifty day moving average of $0.90 and a 200 day moving average of $1.12. Argo Blockchain has a 1 year low of $0.52 and a 1 year high of $3.13.

Institutional Trading of Argo Blockchain

Several institutional investors and hedge funds have recently bought and sold shares of ARBK. Virtu Financial LLC purchased a new stake in shares of Argo Blockchain during the third quarter worth approximately $28,000. XTX Topco Ltd purchased a new stake in shares of Argo Blockchain during the second quarter worth approximately $28,000. Cubist Systematic Strategies LLC acquired a new position in Argo Blockchain in the second quarter valued at approximately $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 purchasing an additional 810,559 shares in the last quarter. 2.42% of the stock is currently owned by hedge funds and other institutional investors.

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.