Argo Blockchain’s (ARBK) Neutral Rating Reaffirmed at HC Wainwright

HC Wainwright restated their neutral rating on shares of Argo Blockchain (NASDAQ:ARBK) in a research note published on Friday, Benzinga reports.

Separately, Canaccord Genuity Group restated a hold rating and issued a $1.45 price target on shares of Argo Blockchain in a report on Thursday, March 28th.

Argo Blockchain Price Performance

Shares of NASDAQ ARBK opened at $1.37 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 305.04. The stock has a market capitalization of $79.13 million, a PE ratio of -2.49 and a beta of 2.01. The stock’s fifty day simple moving average is $1.53 and its two-hundred day simple moving average is $1.90. Argo Blockchain has a 12-month low of $0.92 and a 12-month high of $4.45.

Institutional Trading of Argo Blockchain

A number of institutional investors have recently modified their holdings of ARBK. Catalina Capital Group LLC bought a new stake in shares of Argo Blockchain in the 1st quarter valued at about $28,000. Chesapeake Capital Corp IL acquired a new stake in Argo Blockchain in the 4th quarter worth approximately $132,000. Redwood Wealth Management Group LLC boosted its stake in Argo Blockchain by 33.6% in the 4th quarter. Redwood Wealth Management Group LLC now owns 76,755 shares of the company’s stock worth $287,000 after purchasing an additional 19,300 shares in the last quarter. Finally, Vident Advisory LLC boosted its stake in Argo Blockchain by 108.5% in the 1st quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock worth $3,655,000 after purchasing an additional 876,406 shares in the last quarter. 2.42% of the stock is currently owned by institutional investors.

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.