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

HC Wainwright reissued their neutral rating on shares of Argo Blockchain (NASDAQ:ARBK) in a report issued on Thursday,Benzinga reports.

Argo Blockchain Stock Up 4.5 %

ARBK opened at $1.17 on Thursday. The stock’s fifty day moving average is $1.18 and its 200-day moving average is $1.27. Argo Blockchain has a one year low of $1.02 and a one year high of $4.45. The company has a market capitalization of $74.45 million, a PE ratio of -1.62 and a beta of 1.88. The company has a debt-to-equity ratio of 5.06, a quick ratio of 0.65 and a current ratio of 0.52.

Argo Blockchain (NASDAQ:ARBK) last issued its quarterly earnings results 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 business had revenue of $12.42 million during the quarter, compared to analyst estimates of $13.40 million. On average, equities analysts predict that Argo Blockchain will post -0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARBK. Jane Street Group LLC boosted its stake in shares of 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 in the last quarter. XTX Topco Ltd lifted its holdings in shares of Argo Blockchain by 144.5% during the third quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock valued at $72,000 after purchasing an additional 35,118 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Argo Blockchain in the 2nd quarter valued at $49,000. Finally, Virtu Financial LLC purchased a new position in Argo Blockchain in the 3rd quarter worth about $28,000. 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.