Argo Blockchain (NASDAQ:ARBK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Argo Blockchain (NASDAQ:ARBK) to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts have also recently issued reports on the company. HC Wainwright reaffirmed a “neutral” rating on shares of Argo Blockchain in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Argo Blockchain in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Argo Blockchain Stock Down 17.6%

Shares of ARBK opened at $5.66 on Friday. Argo Blockchain has a 12 month low of $5.01 and a 12 month high of $205.20. The company’s fifty day moving average is $73.61 and its 200-day moving average is $70.93. The firm has a market cap of $1.87 million, a price-to-earnings ratio of -0.03 and a beta of 1.83.

Argo Blockchain (NASDAQ:ARBK) last posted its earnings results on Tuesday, September 30th. The company reported ($10.80) earnings per share for the quarter. The business had revenue of $3.14 million during the quarter. As a group, research analysts predict that Argo Blockchain will post -0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Argo Blockchain

An institutional investor recently bought a new position in Argo Blockchain stock. Armistice Capital LLC acquired a new position in Argo Blockchain PLC Sponsored ADR (NASDAQ:ARBK) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,435,969 shares of the company’s stock, valued at approximately $830,000. Armistice Capital LLC owned 6.17% of Argo Blockchain at the end of the most recent quarter. Institutional investors 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.