HC Wainwright Reiterates “Neutral” Rating for Argo Blockchain (NASDAQ:ARBK)

Argo Blockchain (NASDAQ:ARBK)‘s stock had its “neutral” rating reissued by HC Wainwright in a research note issued on Thursday, Benzinga reports.

Argo Blockchain Trading Down 2.3 %

Shares of Argo Blockchain stock opened at $1.25 on Thursday. The firm has a market capitalization of $72.20 million, a PE ratio of -2.66 and a beta of 1.90. Argo Blockchain has a twelve month low of $0.94 and a twelve month high of $4.45. The firm’s 50-day moving average price is $1.31 and its 200 day moving average price is $1.53. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 5.06.

Argo Blockchain (NASDAQ:ARBK) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.12). The business had revenue of $12.42 million during the quarter, compared to analyst estimates of $13.40 million. Argo Blockchain had a negative net margin of 54.06% and a negative return on equity of 4,172.69%. On average, sell-side analysts predict that Argo Blockchain will post -0.46 EPS for the current fiscal year.

Institutional Trading of Argo Blockchain

A number of hedge funds have recently bought and sold shares of the business. Vident Advisory LLC raised its holdings in Argo Blockchain by 108.5% in the 1st quarter. Vident Advisory LLC now owns 1,684,232 shares of the company’s stock valued at $3,655,000 after acquiring an additional 876,406 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Argo Blockchain in the 2nd quarter valued at about $49,000. Chesapeake Capital Corp IL acquired a new stake in shares of Argo Blockchain during the 4th quarter worth approximately $132,000. XTX Topco Ltd acquired a new stake in shares of Argo Blockchain during the 2nd quarter worth approximately $28,000. Finally, Catalina Capital Group LLC acquired a new stake in shares of Argo Blockchain during the 1st quarter worth approximately $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.