Argo Blockchain (NASDAQ:ARBK) Earns “Neutral” Rating from HC Wainwright

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

Argo Blockchain Trading Up 4.5 %

NASDAQ ARBK opened at $1.17 on Thursday. The company has a debt-to-equity ratio of 5.06, a current ratio of 0.52 and a quick ratio of 0.65. The stock has a market capitalization of $74.45 million, a P/E ratio of -1.63 and a beta of 1.88. The firm’s 50-day moving average is $1.18 and its two-hundred day moving average is $1.26. Argo Blockchain has a 12 month low of $1.02 and a 12 month high of $4.45.

Argo Blockchain (NASDAQ:ARBK) last issued its quarterly earnings data on Wednesday, August 28th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.12). The company had revenue of $12.42 million during the quarter, compared to analyst estimates of $13.40 million. Argo Blockchain had a negative return on equity of 4,172.69% and a negative net margin of 92.08%. On average, sell-side analysts anticipate that Argo Blockchain will post -0.74 earnings per share for the current year.

Institutional Investors Weigh In On Argo Blockchain

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its stake in Argo Blockchain by 488.7% during the 3rd quarter. Jane Street Group LLC now owns 976,414 shares of the company’s stock worth $1,181,000 after acquiring an additional 810,559 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Argo Blockchain in the 2nd quarter valued at about $49,000. XTX Topco Ltd increased its stake in Argo Blockchain by 144.5% during the third quarter. XTX Topco Ltd now owns 59,426 shares of the company’s stock worth $72,000 after purchasing an additional 35,118 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Argo Blockchain during the third quarter worth about $28,000. 2.42% of the stock is owned by institutional investors and hedge funds.

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.