HC Wainwright Reaffirms Neutral Rating for Argo Blockchain (NASDAQ:ARBK)

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

Argo Blockchain Trading Down 2.3 %

Shares of ARBK stock opened at $1.25 on Thursday. The stock has a 50 day simple moving average of $1.31 and a 200-day simple moving average of $1.52. Argo Blockchain has a 1-year low of $0.94 and a 1-year high of $4.45. The company has a market cap of $72.20 million, a price-to-earnings ratio of -2.66 and a beta of 1.90. The company has a debt-to-equity ratio of 5.06, a current ratio of 0.43 and a quick ratio of 0.65.

Argo Blockchain (NASDAQ:ARBK) last posted its quarterly earnings data on Wednesday, August 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.12). Argo Blockchain had a negative net margin of 93.70% and a negative return on equity of 2,012.61%. The company had revenue of $12.42 million for the quarter, compared to analysts’ expectations of $13.40 million. On average, equities research analysts expect that Argo Blockchain will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Argo Blockchain

Several large investors have recently bought and sold shares of ARBK. Vident Advisory LLC lifted its position in shares of Argo Blockchain by 108.5% in the first 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Argo Blockchain in the 2nd quarter valued at $49,000. Chesapeake Capital Corp IL purchased a new position in Argo Blockchain in the 4th quarter valued at $132,000. XTX Topco Ltd acquired a new stake in Argo Blockchain during the 2nd quarter worth $28,000. Finally, Catalina Capital Group LLC purchased a new stake in shares of Argo Blockchain during the first quarter worth $28,000. 2.42% of the stock is currently owned by hedge funds and other 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.