Argo Blockchain (NASDAQ:ARBK) Earns Underperform Rating from Analysts at Keefe, Bruyette & Woods

Equities research analysts at Keefe, Bruyette & Woods started coverage on shares of Argo Blockchain (NASDAQ:ARBK) in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage set an “underperform” rating on the stock.

Separately, HC Wainwright restated a “neutral” rating on shares of Argo Blockchain in a research report on Thursday, November 21st.

Argo Blockchain Stock Down 2.6 %

Shares of ARBK opened at $0.65 on Wednesday. The stock’s 50-day moving average price is $0.91 and its 200-day moving average price is $1.13. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 5.06. The company has a market capitalization of $41.53 million, a price-to-earnings ratio of -0.91 and a beta of 1.97. Argo Blockchain has a 52 week low of $0.52 and a 52 week high of $3.33.

Institutional Investors Weigh In On Argo Blockchain

Several hedge funds have recently modified their holdings of ARBK. Virtu Financial LLC acquired a new position in Argo Blockchain in the 3rd quarter worth about $28,000. XTX Topco Ltd acquired a new position in shares of Argo Blockchain during the 2nd quarter worth approximately $28,000. Cubist Systematic Strategies LLC acquired a new position in shares of Argo Blockchain during the 2nd quarter worth approximately $49,000. Finally, Jane Street Group LLC lifted its position in shares of Argo Blockchain by 488.7% during the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock valued at $1,181,000 after buying an additional 810,559 shares in the last quarter. 2.42% of the stock is owned by hedge funds and other 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.