Argo Blockchain (NASDAQ:ARBK) Given “Hold” Rating at Canaccord Genuity Group

Argo Blockchain (NASDAQ:ARBK)‘s stock had its “hold” rating reaffirmed by Canaccord Genuity Group in a report issued on Thursday, Benzinga reports. They presently have a $1.45 price target on the stock. Canaccord Genuity Group’s price objective indicates a potential downside of 19.00% from the stock’s previous close.

Argo Blockchain Stock Up 11.9 %

Shares of ARBK stock traded up $0.19 during mid-day trading on Thursday, reaching $1.79. 1,254,436 shares of the company were exchanged, compared to its average volume of 931,400. The business’s 50 day simple moving average is $2.04 and its 200 day simple moving average is $1.78. Argo Blockchain has a fifty-two week low of $0.92 and a fifty-two week high of $4.45.

Institutional Investors Weigh In On Argo Blockchain

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vident Advisory LLC grew its stake in Argo Blockchain by 429.1% during the 4th quarter. Vident Advisory LLC now owns 807,826 shares of the company’s stock valued at $3,021,000 after acquiring an additional 655,136 shares in the last quarter. Wolverine Trading LLC acquired a new position in shares of Argo Blockchain during the fourth quarter worth approximately $52,000. Chesapeake Capital Corp IL bought a new stake in shares of Argo Blockchain during the fourth quarter valued at approximately $132,000. Redwood Wealth Management Group LLC grew its position in Argo Blockchain by 33.6% in the fourth quarter. Redwood Wealth Management Group LLC now owns 76,755 shares of the company’s stock valued at $287,000 after acquiring an additional 19,300 shares during the period. Finally, Harvest Portfolios Group Inc. grew its holdings in shares of Argo Blockchain by 49.5% during the first quarter. Harvest Portfolios Group Inc. now owns 40,649 shares of the company’s stock worth $68,000 after purchasing an additional 13,467 shares during the last quarter. 2.42% of the stock is currently owned by 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.