Argo Blockchain (NASDAQ:ARBK) Rating Lowered to Neutral at HC Wainwright

HC Wainwright downgraded shares of Argo Blockchain (NASDAQ:ARBK) from a buy rating to a neutral rating in a report issued on Friday morning, MarketBeat Ratings reports.

Separately, Canaccord Genuity Group restated a hold rating and issued a $1.45 price target on shares of Argo Blockchain in a report on Thursday, March 28th.

Argo Blockchain Stock Performance

Argo Blockchain stock opened at $1.49 on Friday. The company has a debt-to-equity ratio of 305.04, a quick ratio of 0.59 and a current ratio of 0.54. The business has a fifty day moving average of $1.80 and a two-hundred day moving average of $1.87. Argo Blockchain has a twelve month low of $0.92 and a twelve month high of $4.45.

Institutional Trading of Argo Blockchain

A hedge fund recently raised its stake in Argo Blockchain stock. Redwood Wealth Management Group LLC raised its stake in shares of Argo Blockchain plc (NASDAQ:ARBK) by 33.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 76,755 shares of the company’s stock after buying an additional 19,300 shares during the period. Redwood Wealth Management Group LLC owned about 0.13% of Argo Blockchain worth $287,000 at the end of the most recent quarter. Institutional investors own 2.42% of the company’s stock.

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.